Today The NEXT Financial Group Inc Has $1,496,000 Position in American Express Company (AXP)

Today The NEXT Financial Group Inc Has $1,496,000 Position in American Express Company (AXP)

NEXT Financial Group Inc raised its stake in shares of American Express Company (NYSE:AXP) by 98.4% during the third quarter, Holdings Channel reports. The fund owned 23,357 shares of the payment services company’s stock after buying an additional 11,584 shares during the period. NEXT Financial Group Inc’s holdings in American Express Company were worth $1,496,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AXP. Stratos Wealth Partners LTD. raised its position in American Express Company by 45.1% in the third quarter. Stratos Wealth Partners LTD. now owns 24,284 shares of the payment services company’s stock worth $1,555,000 after buying an additional 7,546 shares in the last quarter. Jackson Park Capital LLC raised its position in American Express Company by 14.3% in the third quarter. Jackson Park Capital LLC now owns 16,000 shares of the payment services company’s stock worth $1,025,000 after buying an additional 2,000 shares in the last quarter. Advance Capital I Inc. purchased a new position in American Express Company during the third quarter worth approximately $263,000. Garrison Financial Corp purchased a new position in American Express Company during the third quarter worth approximately $472,000. Finally, Becker Capital Management Inc. raised its position in American Express Company by 3.5% in the third quarter. Becker Capital Management Inc. now owns 516,405 shares of the payment services company’s stock worth $33,071,000 after buying an additional 17,470 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Express Company (NYSE:AXP) opened at 77.43 on Wednesday. The stock has a 50 day moving average price of $75.31 and a 200-day moving average price of $68.02. The company has a market capitalization of $70.00 billion, a PE ratio of 13.70 and a beta of 1.20. American Express Company has a 52 week low of $50.27 and a 52 week high of $78.00.

American Express Company (NYSE:AXP) last released its earnings results on Thursday, January 19th. The payment services company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by $0.07. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.92 billion. American Express Company had a return on equity of 33.49% and a net margin of 16.63%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Equities research analysts expect that American Express Company will post $5.66 EPS for the current 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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, January 4th. American Express Company’s dividend payout ratio (DPR) is currently 22.74%.

A number of research firms have recently commented on AXP. Zacks Investment Research raised shares of American Express Company from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday. Vetr raised shares of American Express Company from a “buy” rating to a “strong-buy” rating and set a $86.04 price target on the stock in a research report on Monday. Oppenheimer Holdings, Inc. set a $97.00 price target on shares of American Express Company and gave the company a “buy” rating in a research report on Saturday. Stephens set a $70.00 price target on shares of American Express Company and gave the company a “sell” rating in a research report on Saturday. Finally, BMO Capital Markets reissued a “hold” rating and issued a $80.00 price target on shares of American Express Company in a research report on Friday, January 20th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.84.

In related news, insider Ashwini Gupta sold 146,030 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $72.28, for a total value of $10,555,048.40. Following the sale, the insider now directly owns 298,910 shares of the company’s stock, valued at $21,605,214.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider L Kevin Cox sold 54,574 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $78.00, for a total value of $4,256,772.00. Following the completion of the sale, the insider now directly owns 30,090 shares in the company, valued at $2,347,020. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,692 shares of company stock worth $19,988,289. 0.78% of the stock is currently owned by insiders.

American Express Company 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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