Northern Trust Corp Sells 220,709 Shares of American Express Company (AXP)

Northern Trust Corp lowered its stake in shares of American Express Company (NYSE:AXP) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,941,949 shares of the payment services company’s stock after selling 220,709 shares during the period. Northern Trust Corp owned 1.12% of American Express worth $837,510,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXP. BlackRock Inc. raised its position in shares of 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 worth $3,494,913,000 after buying an additional 42,592,136 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 worth $1,360,596,000 after buying an additional 3,071,573 shares in the last quarter. Veritas Asset Management LLP raised its position in shares of 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 worth $867,942,000 after buying an additional 1,358,474 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 worth $90,739,000 after buying an additional 1,077,033 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of American Express by 40.1% in the first quarter. OppenheimerFunds Inc. now owns 3,627,184 shares of the payment services company’s stock worth $286,946,000 after buying an additional 1,038,328 shares in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.

In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Insiders sold 146,345 shares of company stock valued at $13,716,103 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

AXP has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Tuesday, July 18th. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Barclays PLC reiterated a “buy” rating and issued a $83.00 price objective on shares of American Express in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $94.00 price objective (up previously from $87.00) on shares of American Express in a research report on Saturday, July 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $91.56.

Shares of American Express Company (NYSE AXP) opened at $93.90 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $81,175.00, a PE ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22. American Express Company has a 12 month low of $70.63 and a 12 month 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. analysts predict that American Express Company will post 5.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. The ex-dividend date was Thursday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.49%. American Express’s dividend payout ratio (DPR) is 26.97%.

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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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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