SevenBridge Financial Group LLC cut its stake in American Express (NYSE:AXP) by 15.5% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 1,076 shares of the payment services company after selling 197 shares during the period. SevenBridge Financial Group LLC’s holdings in American Express were worth $201,000 at the end of the last quarter.
Several other large investors also changed their positions in AXP. Spire Wealth Management increased its position in American Express by 109.7% in the fourth quarter. Spire Wealth Management now owns 9,090 shares of the payment services company worth $1,487,000 after purchasing an additional 4,755 shares during the period. Van ECK Associates Corp increased its position in American Express by 275.0% in the fourth quarter. Van ECK Associates Corp now owns 58,352 shares of the payment services company worth $9,546,000 after buying an additional 42,792 shares during the period. FDx Advisors Inc. increased its position in American Express by 15.3% in the fourth quarter. FDx Advisors Inc. now owns 9,489 shares of the payment services company worth $1,552,000 after purchasing an additional 1,256 shares during the period. Avantax Advisory Services Inc. increased its position in American Express by 15.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 14,298 shares of the payment services company worth $2,340,000 after purchasing an additional 1,946 shares during the period. Finally, Fifth Third Bancorp increased its position in American Express by 2.4% in the 4th quarter. Fifth Third Bancorp now owns 226,124 shares of the payment services company worth $36,994,000 after buying an additional 5,256 shares during the period. 85.49% of the shares are held by hedge funds and other institutional investors.
Separately, director Theodore Leonsis sold 4,005 shares of the company in a trade on Friday, June 3. The shares were sold at an average price of $166.63, for a total transaction of $667,353.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CEO Stephen J. Squeri sold 48,160 shares of the company in a trade on Thursday, April 28. The stock was sold at an average price of $178.38, for a total transaction of $8,590,780.80. As a result of the transaction, the CEO now directly owns 31,285 shares of the company, valued at approximately $5,580,618.30. The disclosure of this sale can be found here. Insiders hold 0.11% of the company’s shares.
Shares of AXP opened at $146.15 on Monday. The company has a market capitalization of $110.06 billion, a price-to-earnings ratio of 14.64, a growth price-to-earnings ratio of 1.13 and a beta of 1.08. American Express has a 12-month low of $136.49 and a 12-month high of $199.55. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt ratio of 1.71. The company has a 50-day moving average of $163.33 and a two-hundred-day moving average of $172.74.
American Express (NYSE:AXP – Get Rating) last released its quarterly earnings data on Friday, April 22. The payment services company reported EPS of $2.73 for the quarter, beating the consensus estimate of $2.43 by $0.30. American Express had a net margin of 17.49% and a return on equity of 33.35%. The company posted revenue of $11.74 billion in the quarter, versus a consensus estimate of $11.66 billion. In the same period a year earlier, the company posted earnings per share of $1.74. The company’s revenue for the quarter increased by 29.5% compared to the same quarter last year. On average, sell-side analysts expect American Express to post 9.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 10. Shareholders of record on Friday, July 1 will receive a dividend of $0.52 per share. The ex-dividend date is Thursday, June 30. This represents an annualized dividend of $2.08 and a dividend yield of 1.42%. American Express’ payout ratio is currently 20.84%.
AXP has been the subject of a number of research reports. Oppenheimer reaffirmed a “buy” rating and set a target price of $212.00 on American Express shares in a Friday, June 10 research report. StockNews.com launched coverage on American Express shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Wolfe Research downgraded shares of American Express from an “outperform” rating to a “peer performance” rating and reduced its target price for the stock from $213.00 to $146.00 in a research report of Thursday, May 12. Robert W. Baird upgraded American Express shares from a “neutral” to an “outperforming” rating and set a target price of $175.00 on the stock in a research report on Friday, June 17 . Finally, Edward Jones moved American Express shares from a “hold” rating to a “buy” rating in a Monday, June 6 research report. One research analyst has assigned the stock a sell rating, twelve have issued a hold rating and nine have assigned the stock a buy rating. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $194.17.
American Express Company Profile (Get a rating)
American Express Company, together with its subsidiaries, provides payment and credit card products and travel-related services worldwide. The Company operates through three segments: Global Consumer Services Group, Global Commercial Services and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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