Trading Report: The RK Asset Management LLC Sold shares of American Express Co. (AXP)

The RK Asset Management LLC Sold shares of American Express Co. (AXP)

RK Asset Management LLC cut its position in shares of American Express Co. (NYSE:AXP) by 4.2% during the third quarter, Holdings Channel reports. The fund owned 93,248 shares of the payment services company’s stock after selling 4,095 shares during the period. American Express comprises 5.4% of RK Asset Management LLC’s holdings, making the stock its 11th largest position. RK Asset Management LLC’s holdings in American Express were worth $5,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Bank of Stockton raised its position in shares of American Express by 3.0% in the second quarter. Bank of Stockton now owns 15,990 shares of the payment services company’s stock worth $972,000 after buying an additional 460 shares during the last quarter. Trust Co increased its stake in shares of American Express by 38.8% in the first quarter. Trust Co now owns 42,024 shares of the payment services company’s stock worth $2,580,000 after buying an additional 11,742 shares during the period. Exxonmobil Investment Management Inc. TX increased its stake in shares of American Express by 4.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 209,249 shares of the payment services company’s stock worth $12,714,000 after buying an additional 9,736 shares during the period. DNB Asset Management AS increased its stake in shares of American Express by 2.8% in the second quarter. DNB Asset Management AS now owns 76,964 shares of the payment services company’s stock worth $4,676,000 after buying an additional 2,100 shares during the period. Finally, British Columbia Investment Management Corp increased its stake in shares of American Express by 3.0% in the second quarter. British Columbia Investment Management Corp now owns 462,041 shares of the payment services company’s stock worth $28,074,000 after buying an additional 13,409 shares during the period. Institutional investors own 82.13% of the company’s stock.

American Express Co. (NYSE:AXP) traded down 0.03% on Friday, hitting $72.86. The stock had a trading volume of 1,900,447 shares. American Express Co. has a 12-month low of $50.27 and a 12-month high of $73.18. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 12.95 and a beta of 1.19. The company’s 50 day moving average price is $66.74 and its 200-day moving average price is $64.64.

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

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

A number of analysts have issued reports on the company. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup Inc. reaffirmed a “buy” rating on shares of American Express in a research note on Wednesday, August 10th. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 target price on shares of American Express in a research note on Saturday, October 22nd. Nomura downgraded American Express from a “neutral” rating to a “reduce” rating and cut their target price for the stock from $62.00 to $56.00 in a research note on Thursday, October 6th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of American Express in a research note on Saturday, October 15th. Eight investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $67.65.

In other American Express news, insider Ashwini Gupta sold 146,030 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $72.28, for a total transaction of $10,555,048.40. Following the completion of the sale, the insider now owns 298,910 shares in the company, valued at approximately $21,605,214.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $70.45, for a total value of $1,351,653.70. Following the sale, the insider now owns 56,870 shares of the company’s stock, valued at approximately $4,006,491.50. The disclosure for this sale can be found here. Company 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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