Today: Capstone Asset Management Co. Reached $12,032,000 position of American Express Co. (AXP)

Today: Capstone Asset Management Co. Reached $12,032,000 position  of American Express Co. (AXP)

Capstone Asset Management Co. reduced its position in American Express Co. (NYSE:AXP) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 187,886 shares of the payment services company’s stock after selling 4,240 shares during the period. Capstone Asset Management Co.’s holdings in American Express were worth $12,032,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AXP. Vanguard Group Inc. increased its stake in shares of American Express by 1.1% in the second quarter. Vanguard Group Inc. now owns 47,952,807 shares of the payment services company’s stock worth $2,913,613,000 after buying an additional 504,284 shares during the period. Dodge & Cox increased its stake in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock worth $1,716,387,000 after buying an additional 1,888,379 shares during the period. First Eagle Investment Management LLC increased its stake in shares of American Express by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 15,733,904 shares of the payment services company’s stock worth $955,992,000 after buying an additional 173,281 shares during the period. BlackRock Fund Advisors increased its stake in shares of American Express by 0.7% in the second quarter. BlackRock Fund Advisors now owns 9,301,472 shares of the payment services company’s stock worth $565,157,000 after buying an additional 61,459 shares during the period. Finally, Veritas Asset Management LLP increased its stake in shares of American Express by 9.8% in the second quarter. Veritas Asset Management LLP now owns 7,659,651 shares of the payment services company’s stock worth $465,400,000 after buying an additional 686,254 shares during the period. Institutional investors own 80.82% of the company’s stock.

American Express Co. (NYSE:AXP) traded down 1.00% on Monday, hitting $72.13. 4,292,716 shares of the company were exchanged. The company has a market capitalization of $66.02 billion, a P/E ratio of 12.82 and a beta of 1.19. American Express Co. has a 52 week low of $50.27 and a 52 week high of $73.18. The firm’s 50 day moving average is $66.74 and its 200 day moving average is $64.64.

American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.28. American Express had a net margin of 16.67% and a return on equity of 27.84%. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the business earned $1.24 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that American Express Co. will post $5.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 6th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.28 annualized dividend and a dividend yield of 1.76%. American Express’s dividend payout ratio (DPR) is 22.70%.

AXP has been the topic of a number of research analyst reports. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, October 24th. Vetr cut American Express from a “sell” rating to a “strong sell” rating and set a $64.38 target price on the stock. in a research note on Tuesday, November 15th. Piper Jaffray Cos. reissued a “hold” rating and issued a $71.00 target price on shares of American Express in a research note on Wednesday, September 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 target price on shares of American Express in a research note on Monday, September 12th. Finally, Atlantic Securities initiated coverage on American Express in a research note on Friday, September 9th. They issued an “underweight” rating and a $62.00 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.65.

In other news, insider Ashwini Gupta sold 140,808 shares of the firm’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $67.18, for a total value of $9,459,481.44. Following the transaction, the insider now directly owns 239,718 shares of the company’s stock, valued at $16,104,255.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the completion of the transaction, the insider now directly owns 56,870 shares in the company, valued at $4,006,491.50. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

About American Express

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).

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