Trading Report: Today, KBC Group NV Sold shares of American Express Co. (AXP)

Today, KBC Group NV Sold shares of American Express Co. (AXP)

KBC Group NV decreased its position in American Express Co. (NYSE:AXP) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 287,305 shares of the payment services company’s stock after selling 11,574 shares during the period. KBC Group NV’s holdings in American Express were worth $18,399,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. TD Asset Management Inc. boosted its stake in American Express by 2.6% in the third quarter. TD Asset Management Inc. now owns 727,016 shares of the payment services company’s stock worth $46,558,000 after buying an additional 18,603 shares during the period. Argus Investors Counsel Inc. boosted its stake in American Express by 4.2% in the third quarter. Argus Investors Counsel Inc. now owns 63,895 shares of the payment services company’s stock worth $4,092,000 after buying an additional 2,570 shares during the period. Goelzer Investment Management Inc. boosted its stake in American Express by 25.0% in the third quarter. Goelzer Investment Management Inc. now owns 55,370 shares of the payment services company’s stock worth $3,546,000 after buying an additional 11,080 shares during the period. Advisor Partners LLC boosted its stake in American Express by 3.4% in the third quarter. Advisor Partners LLC now owns 14,186 shares of the payment services company’s stock worth $908,000 after buying an additional 470 shares during the period. Finally, WealthTrust Fairport LLC boosted its stake in American Express by 38.1% in the third quarter. WealthTrust Fairport LLC now owns 3,640 shares of the payment services company’s stock worth $233,000 after buying an additional 1,005 shares during the period. Institutional investors own 80.82% of the company’s stock.

Shares of American Express Co. (NYSE:AXP) traded down 0.66% during midday trading on Monday, reaching $72.38. The company’s stock had a trading volume of 2,651,982 shares. The stock has a market cap of $66.25 billion, a price-to-earnings ratio of 12.86 and a beta of 1.19. The stock has a 50-day moving average price of $66.74 and a 200-day moving average price of $64.64. American Express Co. has a 52-week low of $50.27 and a 52-week high of $73.18.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.28. The company earned $7.80 billion during the quarter, compared to analysts’ expectations of $7.70 billion. American Express had a return on equity of 27.84% and a net margin of 16.67%. American Express’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Equities research analysts anticipate 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. Investors of record on Friday, January 6th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 4th. American Express’s dividend payout ratio is presently 22.70%.

A number of research firms recently weighed in on AXP. Citigroup Inc. restated a “buy” rating on shares of American Express in a research note on Wednesday, August 10th. Jefferies Group restated a “hold” rating and issued a $60.00 price target on shares of American Express in a research note on Saturday, October 22nd. Nomura cut American Express from a “neutral” rating to a “reduce” rating and dropped their price target for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, October 24th. Finally, Evercore ISI reiterated a “hold” rating on shares of American Express in a research report on Saturday, October 15th. Eight analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. American Express has a consensus rating of “Hold” and a consensus price target of $67.65.

In related news, insider Susan Sobbott sold 19,186 shares of the 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 sale, the insider now directly owns 56,870 shares in the company, valued at approximately $4,006,491.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashwini Gupta sold 140,808 shares of the 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 sale, the insider now owns 239,718 shares of the company’s stock, valued at $16,104,255.24. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

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).

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