Icon Advisers Inc. Co. Acquires Shares of 12,400 American Express Company (AXP)
Icon Advisers Inc. Co. acquired a new position in American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,400 shares of the payment services company’s stock, valued at approximately $1,045,000.
A number of other institutional investors have also bought and sold shares of the business. MCF Advisors LLC boosted its stake in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after purchasing an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in American Express by 0.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after purchasing an additional 11 shares in the last quarter. Bath Savings Trust Co boosted its stake in American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after purchasing an additional 14 shares in the last quarter. Finally, Accredited Investors Inc. boosted its stake in American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after purchasing an additional 15 shares in the last quarter. 84.66% of the stock is currently owned by institutional investors.
American Express Company (NYSE AXP) opened at $95.37 on Wednesday. The firm has a market capitalization of $83,579.36, a P/E ratio of 18.45, a PEG ratio of 1.61 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 52 week low of $66.31 and a 52 week high of $96.90.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. research analysts expect that American Express Company will post 5.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is 26.97%.
AXP has been the topic of a number of recent analyst reports. Barclays PLC reissued a “buy” rating and issued a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Guggenheim reissued a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Bank of America Corporation restated a “buy” rating and set a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $91.56.
In other news, insider Susan Sobbott sold 6,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the transaction, the insider now owns 289,996 shares in the company, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,845 shares of company stock worth $13,197,233. 0.67% of the stock is owned by corporate insiders.
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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).
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