American Express Company (AXP) Holdings Held by Community Bank N.A.
Community Bank N.A. maintained its stake in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,276 shares of the payment services company’s stock at the end of the 2nd quarter. Community Bank N.A.’s holdings in American Express were worth $781,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Matthew Goff Investment Advisor LLC bought a new position in shares of American Express during the first quarter valued at approximately $2,543,000. Vanguard Group Inc. increased its stake in shares of American Express by 1.5% during the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in shares of American Express by 19.5% during the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after purchasing an additional 104,647 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of American Express during the second quarter valued at approximately $215,000. Finally, Trust Co. of Vermont increased its stake in shares of American Express by 5.0% during the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock valued at $1,367,000 after purchasing an additional 819 shares in the last quarter. 82.78% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of American Express in a research note on Tuesday. They set an “outperform” rating for the company. Bank of America Corporation reaffirmed a “buy” rating and set a $102.00 target price on shares of American Express in a research note on Monday. Credit Suisse Group reaffirmed a “sell” rating and set a $79.00 target price on shares of American Express in a research note on Wednesday, October 4th. Buckingham Research assumed coverage on shares of American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price for the company. Finally, Barclays PLC reaffirmed a “buy” rating and set a $83.00 target price on shares of American Express in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $86.65.
Shares of American Express Company (NYSE AXP) opened at 91.89 on Wednesday. The company has a market cap of $81.23 billion, a P/E ratio of 18.85 and a beta of 1.21. The company’s 50 day moving average is $87.71 and its 200 day moving average is $82.84. American Express Company has a 12 month low of $59.50 and a 12 month high of $92.34.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter in the prior year, the company posted $2.10 earnings per share. American Express’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts predict that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.35 per share. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. American Express’s dividend payout ratio is presently 28.63%.
In related news, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Insiders have sold 959,617 shares of company stock valued at $81,377,425 in the last three months. 0.67% of the stock is currently owned by corporate insiders.
American Express 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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