ZWJ Investment Counsel Inc. Purchases 8,442 Shares of American Express (NYSE:AXP)

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ZWJ Investment Counsel Inc. boosted its position in American Express (NYSE:AXP) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,318 shares of the payment services company’s stock after acquiring an additional 8,442 shares during the period. American Express accounts for 1.9% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 21st largest position. ZWJ Investment Counsel Inc.’s holdings in American Express were worth $23,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AXP. Magellan Asset Management Ltd boosted its holdings in American Express by 212,845.6% in the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after acquiring an additional 9,575,925 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after acquiring an additional 6,587,148 shares during the last quarter. Morgan Stanley boosted its holdings in American Express by 16.2% in the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after acquiring an additional 731,450 shares during the last quarter. Capital Wealth Planning LLC boosted its holdings in American Express by 3,750.4% in the second quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock valued at $61,028,000 after acquiring an additional 481,554 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in American Express by 3.5% in the second quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after acquiring an additional 381,084 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

AXP has been the topic of several recent research reports. Wells Fargo & Co raised their price target on American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. William Blair reiterated a “buy” rating on shares of American Express in a report on Friday, October 18th. Morgan Stanley set a $142.00 price target on American Express and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. set a $122.00 price target on American Express and gave the company a “hold” rating in a report on Tuesday, October 8th. Finally, Cfra reissued a “hold” rating on shares of American Express in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $124.56.

NYSE:AXP traded down $2.71 during mid-day trading on Wednesday, hitting $115.90. The company had a trading volume of 275,374 shares, compared to its average volume of 3,270,201. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34. The business’s fifty day moving average is $117.44 and its two-hundred day moving average is $119.82. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.84 and a current ratio of 2.12. The firm has a market cap of $98.77 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.45 and a beta of 1.06.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.01. American Express had a return on equity of 29.69% and a net margin of 16.51%. The firm had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that American Express will post 8.15 earnings per share for the current year.

The business also recently announced a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 3rd. American Express’s payout ratio is 23.47%.

In other news, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the sale, the chief executive officer now owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the sale, the insider now directly owns 35,931 shares in the company, valued at approximately $4,565,392.86. The disclosure for this sale can be found here. Insiders sold 37,500 shares of company stock worth $4,618,653 in the last three months. Insiders own 0.21% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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