NJ State Employees Deferred Compensation Plan Holds Stake in American Express Company (AXP)
NJ State Employees Deferred Compensation Plan maintained its stake in American Express Company (NYSE:AXP) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 50,000 shares of the payment services company’s stock at the end of the first quarter. American Express Company makes up approximately 0.8% of NJ State Employees Deferred Compensation Plan’s holdings, making the stock its 20th largest position. NJ State Employees Deferred Compensation Plan’s holdings in American Express Company were worth $3,956,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC purchased a new position in American Express Company during the first quarter valued at $100,000. FNY Partners Fund LP purchased a new position in American Express Company during the fourth quarter valued at $111,000. Sowell Financial Services LLC purchased a new position in American Express Company during the fourth quarter valued at $128,000. Capital Guardian Trust Co. boosted its position in American Express Company by 23.6% in the fourth quarter. Capital Guardian Trust Co. now owns 1,717 shares of the payment services company’s stock valued at $127,000 after buying an additional 328 shares during the period. Finally, Massey Quick & Co. LLC purchased a new position in American Express Company during the fourth quarter valued at $148,000. Institutional investors and hedge funds own 83.78% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at 81.45 on Friday. American Express Company has a 52 week low of $57.15 and a 52 week high of $82.00. The stock has a market cap of $72.80 billion, a PE ratio of 14.70 and a beta of 1.19. The stock has a 50 day moving average of $78.54 and a 200-day moving average of $77.55. American Express Company also was the target of some unusual options trading activity on Wednesday. Traders acquired 1,288 put options on the company. This represents an increase of approximately 306% compared to the average volume of 317 put options.
American Express Company (NYSE:AXP) last posted its quarterly earnings data on Wednesday, April 19th. The payment services company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.06. American Express Company had a net margin of 16.24% and a return on equity of 25.24%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that American Express Company will post $5.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, July 5th. American Express Company’s dividend payout ratio (DPR) is 23.19%.
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A number of research analysts have weighed in on AXP shares. BidaskClub upgraded shares of American Express Company from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $91.00 target price on shares of American Express Company in a research note on Monday, April 10th. Wells Fargo & Company reiterated a “market perform” rating and issued a $80.00 target price on shares of American Express Company in a research note on Sunday, May 21st. Zacks Investment Research upgraded shares of American Express Company from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, March 2nd. Finally, Vetr upgraded shares of American Express Company from a “buy” rating to a “strong-buy” rating and set a $89.72 target price on the stock in a research note on Monday, March 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. American Express Company currently has a consensus rating of “Hold” and a consensus price target of $82.71.
In other news, insider Douglas E. Buckminster sold 46,950 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $80.78, for a total transaction of $3,792,621.00. Following the completion of the sale, the insider now directly owns 103,676 shares of the company’s stock, valued at $8,374,947.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas E. Buckminster sold 3,000 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.24, for a total transaction of $237,720.00. Following the sale, the insider now directly owns 55,486 shares of the company’s stock, valued at $4,396,710.64. The disclosure for this sale can be found here. Insiders have sold 54,850 shares of company stock worth $4,407,543 in the last quarter. Company insiders own 0.67% of the company’s stock.
American Express Company Company Profile
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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