American Express Co. (AXP) Shares Sold by RK Asset Management LLC
RK Asset Management LLC cut its position in American Express Co. (NYSE:AXP) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,248 shares of the payment services company’s stock after selling 4,095 shares during the period. American Express comprises approximately 5.4% of RK Asset Management LLC’s investment portfolio, 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 filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of American Express by 1.1% in the second quarter. Vanguard Group Inc. now owns 47,952,807 shares of the payment services company’s stock worth $2,913,613,000 after buying an additional 504,284 shares in the last quarter. Dodge & Cox raised its stake in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock worth $1,716,387,000 after buying an additional 1,888,379 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of American Express by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 15,733,904 shares of the payment services company’s stock worth $955,992,000 after buying an additional 173,281 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of American Express by 0.7% in the second quarter. BlackRock Fund Advisors now owns 9,301,472 shares of the payment services company’s stock worth $565,157,000 after buying an additional 61,459 shares in the last quarter. Finally, Veritas Asset Management LLP raised its stake in shares of American Express by 9.8% in the second quarter. Veritas Asset Management LLP now owns 7,659,651 shares of the payment services company’s stock worth $465,400,000 after buying an additional 686,254 shares in the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
American Express Co. (NYSE:AXP) traded down 0.03% on Friday, reaching $72.86. 1,900,447 shares of the company’s stock were exchanged. The firm has a market cap of $66.69 billion, a PE ratio of 12.95 and a beta of 1.19. American Express Co. has a one year low of $50.27 and a one year high of $73.18. The firm has a 50 day moving average price of $66.74 and a 200 day moving average price of $64.64.
American Express (NYSE:AXP) last announced 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 firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that American Express Co. will post $5.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 6th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.76%. American Express’s dividend payout ratio (DPR) is 22.70%.
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AXP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, October 24th. Vetr downgraded shares of American Express from a “sell” rating to a “strong sell” rating and set a $64.38 price objective on the stock. in a report on Tuesday, November 15th. Piper Jaffray Cos. reissued a “hold” rating and issued a $71.00 price objective on shares of American Express in a report on Wednesday, September 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 price objective on shares of American Express in a report on Monday, September 12th. Finally, Atlantic Securities started coverage on shares of American Express in a report on Friday, September 9th. They issued an “underweight” rating and a $62.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. American Express has a consensus rating of “Hold” and a consensus price target of $67.65.
In other American Express news, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $70.45, for a total value of $1,351,653.70. Following the transaction, the insider now owns 56,870 shares in the company, valued at approximately $4,006,491.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashwini Gupta sold 140,808 shares of the firm’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $67.18, for a total value of $9,459,481.44. Following the completion of the transaction, the insider now owns 239,718 shares in the company, valued at approximately $16,104,255.24. The disclosure for this sale can be found here. 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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