AE Wealth Management LLC increased its position in shares of American Express (NYSE:AXP) by 28.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,185 shares of the payment services company’s stock after purchasing an additional 2,058 shares during the quarter. AE Wealth Management LLC’s holdings in American Express were worth $900,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in AXP. BlackRock Inc. raised its position in American Express by 1.4% during the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after acquiring an additional 626,323 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of American Express by 3.7% in the second quarter. Fisher Asset Management LLC now owns 10,110,872 shares of the payment services company’s stock valued at $990,866,000 after buying an additional 360,596 shares in the last quarter. FMR LLC increased its position in shares of American Express by 969.9% in the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock valued at $939,396,000 after buying an additional 8,689,714 shares in the last quarter. American Century Companies Inc. increased its position in shares of American Express by 5.4% in the second quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock valued at $541,201,000 after buying an additional 282,496 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of American Express by 3.7% in the first quarter. Artisan Partners Limited Partnership now owns 4,964,107 shares of the payment services company’s stock valued at $463,052,000 after buying an additional 177,519 shares in the last quarter. 82.85% of the stock is owned by hedge funds and other institutional investors.
AXP has been the subject of a number of recent analyst reports. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective for the company in a research report on Monday, September 17th. Oppenheimer set a $113.00 price objective on American Express and gave the company a “buy” rating in a research report on Wednesday, July 18th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of American Express in a research report on Monday, July 16th. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Finally, Buckingham Research upgraded American Express from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $111.00 to $112.00 in a research report on Friday, June 29th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $109.69.
Shares of AXP traded down $0.51 during trading hours on Friday, hitting $107.23. 2,399,818 shares of the stock were exchanged, compared to its average volume of 3,527,289. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.92 and a current ratio of 1.92. American Express has a 12-month low of $87.54 and a 12-month high of $111.77. The stock has a market capitalization of $91.69 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.47 and a beta of 1.16.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 18th. The payment services company reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.01. American Express had a return on equity of 30.08% and a net margin of 9.23%. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that American Express will post 7.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a yield of 1.45%. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is 23.85%.
American Express declared that its board has authorized a share buyback program on Thursday, June 28th that authorizes the company to buyback $3.40 billion in outstanding shares. This buyback authorization authorizes the payment services company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other American Express news, insider Marc D. Gordon sold 25,948 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total transaction of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares of the company’s stock, valued at $3,570,359.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Fund Vii L.P. Vivo acquired 20,142,123 shares of the stock in a transaction on Thursday, August 30th. The shares were bought at an average cost of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. Insiders have sold 47,448 shares of company stock worth $4,942,168 in the last three months. 0.20% of the stock is currently owned by corporate insiders.
American Express 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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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