American Express Co. (AXP) Position Cut by CenturyLink Investment Management Co
CenturyLink Investment Management Co reduced its position in shares of American Express Co. (NYSE:AXP) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,308 shares of the payment services company’s stock after selling 1,007 shares during the period. CenturyLink Investment Management Co’s holdings in American Express were worth $2,197,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AXP. Coronation Fund Managers Ltd. bought a new stake in shares of American Express during the second quarter worth $27,786,000. Heritage Investors Management Corp increased its stake in shares of American Express by 1.2% in the second quarter. Heritage Investors Management Corp now owns 291,315 shares of the payment services company’s stock worth $17,700,000 after buying an additional 3,320 shares in the last quarter. Manitou Investment Management Ltd. increased its stake in shares of American Express by 21.1% in the second quarter. Manitou Investment Management Ltd. now owns 194,867 shares of the payment services company’s stock worth $11,840,000 after buying an additional 34,000 shares in the last quarter. Strs Ohio increased its stake in shares of American Express by 8.9% in the second quarter. Strs Ohio now owns 1,106,043 shares of the payment services company’s stock worth $67,203,000 after buying an additional 90,367 shares in the last quarter. Finally, First Pacific Advisors LLC increased its stake in shares of American Express by 6.8% in the second quarter. First Pacific Advisors LLC now owns 6,042,364 shares of the payment services company’s stock worth $367,134,000 after buying an additional 382,336 shares in the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded down 1.00% during trading on Monday, reaching $72.13. The company’s stock had a trading volume of 4,467,747 shares. The stock has a market capitalization of $66.02 billion, a PE ratio of 12.82 and a beta of 1.19. The firm’s 50-day moving average is $67.04 and its 200-day moving average is $64.69. American Express Co. has a 12-month low of $50.27 and a 12-month high of $73.18.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities analysts expect that American Express Co. will post $5.73 earnings per share for the current year.
The company also recently declared 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 4th. American Express’s payout ratio is 22.70%.
AXP has been the topic of a number of recent analyst reports. Vetr raised shares of American Express from a “strong sell” rating to a “sell” rating and set a $57.00 target price on the stock in a research note on Tuesday, October 18th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reissued a “neutral” rating on shares of American Express in a research note on Saturday, October 22nd. Credit Suisse Group AG reissued a “sell” rating and set a $62.00 price target on shares of American Express in a research note on Friday, September 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price target on shares of American Express in a research note on Monday, September 12th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $67.65.
In other news, insider Ashwini Gupta sold 146,030 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $72.28, for a total transaction of $10,555,048.40. Following the transaction, the insider now owns 298,910 shares of the company’s stock, valued at approximately $21,605,214.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Sobbott sold 19,186 shares of the 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 directly owns 56,870 shares in the company, valued at approximately $4,006,491.50. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
About American Express
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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