Penserra Capital Management LLC Buys 345 Shares of American Express Company (AXP)
Penserra Capital Management LLC grew its stake in shares of American Express Company (NYSE:AXP) by 11.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,375 shares of the payment services company’s stock after acquiring an additional 345 shares during the period. Penserra Capital Management LLC’s holdings in American Express were worth $284,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Waldron LP acquired a new position in shares of American Express in the first quarter worth $246,000. Clean Yield Group acquired a new position in shares of American Express in the first quarter worth $175,000. Trust Co. of Vermont increased its stake in shares of American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after acquiring an additional 819 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of American Express by 3.1% in the first quarter. Xact Kapitalforvaltning AB now owns 128,719 shares of the payment services company’s stock worth $10,183,000 after acquiring an additional 3,887 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of American Express by 228.6% in the first quarter. Handelsbanken Fonder AB now owns 115,000 shares of the payment services company’s stock worth $9,098,000 after acquiring an additional 80,000 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.
Shares of American Express Company (AXP) opened at 91.90 on Friday. American Express Company has a one year low of $65.03 and a one year high of $92.95. The company has a 50 day moving average of $89.03 and a 200-day moving average of $83.45. The firm has a market cap of $81.24 billion, a price-to-earnings ratio of 18.85 and a beta of 1.21.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.78%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. On average, analysts expect that American Express Company will post $5.74 EPS for the current year.
The business also recently disclosed 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 represents a $1.40 dividend on an annualized basis and a yield of 1.52%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio is currently 26.97%.
American Express declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
AXP has been the topic of a number of research reports. Morgan Stanley dropped their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Bank of America Corporation reaffirmed a “buy” rating and issued a $102.00 price target on shares of American Express in a research note on Monday, October 9th. BidaskClub downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, Buckingham Research began coverage on shares of American Express in a research note on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $90.66.
In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the transaction, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was 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. Over the last quarter, insiders have sold 953,636 shares of company stock valued at $80,863,777. 0.67% of the stock is owned by corporate insiders.
American Express 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).
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP).
Receive News & Stock Ratings for American Express Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Company and related stocks with our FREE daily email newsletter.