IFC Holdings Incorporated FL increased its stake in American Express Co. (NYSE:AXP) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 8,893 shares of the payment services company’s stock after buying an additional 420 shares during the period. IFC Holdings Incorporated FL’s holdings in American Express were worth $540,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Becker Capital Management Inc. boosted its position in American Express by 2.5% in the second quarter. Becker Capital Management Inc. now owns 498,935 shares of the payment services company’s stock valued at $30,315,000 after buying an additional 12,260 shares in the last quarter. Pastel & Associes SA acquired a new position in American Express during the second quarter valued at about $4,083,000. Pinnacle Financial Partners Inc. boosted its position in American Express by 5.4% in the second quarter. Pinnacle Financial Partners Inc. now owns 48,394 shares of the payment services company’s stock valued at $3,046,000 after buying an additional 2,467 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in American Express by 1.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 138,312 shares of the payment services company’s stock valued at $8,404,000 after buying an additional 1,413 shares in the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in American Express by 1.7% in the second quarter. TRUE Private Wealth Advisors now owns 4,061 shares of the payment services company’s stock valued at $246,000 after buying an additional 69 shares in the last quarter. Institutional investors own 82.03% of the company’s stock.
American Express Co. (NYSE:AXP) traded down 0.72% during midday trading on Friday, hitting $66.45. The company had a trading volume of 4,994,491 shares. The stock has a 50 day moving average of $63.76 and a 200 day moving average of $63.94. The firm has a market cap of $60.82 billion, a price-to-earnings ratio of 11.81 and a beta of 1.24. American Express Co. has a 52-week low of $50.27 and a 52-week high of $74.85.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.28. American Express had a return on equity of 27.84% and a net margin of 16.67%. The company earned $7.80 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. American Express’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that American Express Co. will post $5.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.32 dividend. This is an increase from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, October 5th. American Express’s payout ratio is presently 22.70%.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, October 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of American Express in a research report on Saturday, October 22nd. Jefferies Group reaffirmed a “hold” rating and set a $60.00 price objective on shares of American Express in a research report on Saturday, October 22nd. Barclays PLC set a $63.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 20th. Finally, BMO Capital Markets upped their target price on American Express from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 20th. Seven research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.24.
In other American Express news, insider Ashwini Gupta sold 140,808 shares of American Express stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $67.18, for a total value of $9,459,481.44. Following the completion of the transaction, the insider now directly owns 239,718 shares in the company, valued at $16,104,255.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.78% of the stock is owned by company insiders.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).