Regal Investment Advisors LLC purchased a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 26,208 shares of the payment services company’s stock, valued at approximately $2,208,000.
A number of other institutional investors have also recently added to or reduced their stakes in AXP. BlackRock Inc. lifted its stake in American Express by 2,686.0% in the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock valued at $3,494,913,000 after buying an additional 42,592,136 shares in the last quarter. Wellington Management Group LLP lifted its stake in American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after buying an additional 3,071,573 shares in the last quarter. Veritas Asset Management LLP lifted its stake in American Express by 15.2% in the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after buying an additional 1,358,474 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in American Express by 944,765.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock valued at $90,739,000 after buying an additional 1,077,033 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in American Express by 40.1% in the first quarter. OppenheimerFunds Inc. now owns 3,627,184 shares of the payment services company’s stock valued at $286,946,000 after buying an additional 1,038,328 shares in the last quarter. 84.12% of the stock is currently owned by institutional investors and hedge funds.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The disclosure for this sale can be found here. In the last three months, insiders sold 146,345 shares of company stock worth $13,716,103. 0.67% of the stock is owned by corporate insiders.
A number of equities analysts recently weighed in on AXP shares. Credit Suisse Group restated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. Bank of America Corporation boosted their target price on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 price objective on shares of American Express in a report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $91.56.
American Express Company (NYSE:AXP) opened at $93.90 on Tuesday. The stock has a market capitalization of $81,175.00, a price-to-earnings ratio of 17.92, a PEG ratio of 1.56 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 1-year low of $70.63 and a 1-year high of $96.90.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. American Express’s revenue was up 8.5% on a year-over-year basis. analysts predict that American Express Company will post 5.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. American Express’s dividend payout ratio is currently 26.97%.
About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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