Waverton Investment Management Ltd Sells 10,053 Shares of American Express Co. (AXP)
Waverton Investment Management Ltd decreased its position in American Express Co. (NYSE:AXP) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 417,660 shares of the payment services company’s stock after selling 10,053 shares during the period. American Express accounts for 1.9% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 21st largest position. Waverton Investment Management Ltd’s holdings in American Express were worth $25,377,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC increased its position in shares of American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of American Express during the first quarter valued at approximately $133,000. Kistler Tiffany Companies LLC increased its position in shares of American Express by 13.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,625 shares of the payment services company’s stock valued at $159,000 after buying an additional 315 shares during the last quarter. Prentiss Smith & Co. Inc. acquired a new position in shares of American Express during the second quarter valued at approximately $181,000. Finally, Balentine LLC increased its position in shares of American Express by 20.2% in the first quarter. Balentine LLC now owns 3,270 shares of the payment services company’s stock valued at $201,000 after buying an additional 550 shares during the last quarter. 82.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded up 0.429% during midday trading on Monday, hitting $62.025. 1,802,804 shares of the stock were exchanged. The firm’s 50 day moving average is $64.52 and its 200-day moving average is $63.61. American Express Co. has a 1-year low of $50.27 and a 1-year high of $77.61. The stock has a market capitalization of $57.30 billion, a price-to-earnings ratio of 10.972 and a beta of 1.24.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that American Express Co. will post $5.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio is 22.54%.
AXP has been the topic of several recent analyst reports. Vetr raised American Express from a “hold” rating to a “buy” rating and set a $66.75 target price on the stock in a report on Tuesday, June 14th. Deutsche Bank AG reissued a “hold” rating on shares of American Express in a report on Wednesday, June 15th. JPMorgan Chase & Co. reissued a “hold” rating on shares of American Express in a report on Thursday, June 30th. Credit Suisse Group AG reissued an “underperform” rating on shares of American Express in a report on Tuesday, July 5th. Finally, DA Davidson restated a “neutral” rating and issued a $66.00 price objective on shares of American Express in a research report on Friday, July 8th. Eight research 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.46.
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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