Weatherstone Capital Management lessened its stake in American Express (NYSE:AXP) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,091 shares of the payment services company’s stock after selling 400 shares during the quarter. Weatherstone Capital Management’s holdings in American Express were worth $447,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AXP. Vanguard Group Inc. raised its stake in shares of American Express by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,872,420 shares of the payment services company’s stock valued at $5,310,914,000 after acquiring an additional 364,282 shares during the last quarter. Vanguard Group Inc lifted its position in American Express by 0.7% during the third quarter. Vanguard Group Inc now owns 49,872,420 shares of the payment services company’s stock valued at $5,310,914,000 after purchasing an additional 364,282 shares during the period. BlackRock Inc. raised its position in American Express by 0.7% in the fourth quarter. BlackRock Inc. now owns 45,477,488 shares of the payment services company’s stock worth $4,334,916,000 after acquiring an additional 300,504 shares during the period. FMR LLC raised its position in shares of American Express by 49.5% during the 4th quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after purchasing an additional 8,136,470 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of American Express by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 10,681,552 shares of the payment services company’s stock valued at $1,018,166,000 after purchasing an additional 323,809 shares during the period. 84.86% of the stock is currently owned by institutional investors.
A number of brokerages have commented on AXP. DZ Bank cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Bank of America restated a “neutral” rating and issued a $108.00 price target on shares of American Express in a report on Thursday, March 14th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $115.00) on shares of American Express in a research report on Tuesday, March 12th. Atlantic Securities raised shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective on the stock in a report on Tuesday, January 29th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $93.00 price objective on shares of American Express in a report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $111.80.
Shares of NYSE AXP opened at $111.88 on Wednesday. The stock has a market cap of $93.22 billion, a PE ratio of 15.26, a P/E/G ratio of 1.27 and a beta of 1.11. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 2.62. American Express has a 52 week low of $89.05 and a 52 week high of $114.55.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). The company had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.54 billion. American Express had a return on equity of 30.35% and a net margin of 17.08%. American Express’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. Research analysts expect that American Express will post 8.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a $0.39 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.39%. American Express’s dividend payout ratio (DPR) is 21.28%.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction on Friday, February 1st. The stock was sold at an average price of $103.02, for a total value of $1,287,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Petrino sold 2,444 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the sale, the executive vice president now directly owns 7,591 shares in the company, valued at approximately $813,072.01. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
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About American Express
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.
Further Reading: Intrinsic Value and Stock Selection
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