Rafferty Asset Management LLC Sells 107,180 Shares of American Express Company (AXP)
Rafferty Asset Management LLC reduced its holdings in American Express Company (NYSE:AXP) by 49.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 110,266 shares of the payment services company’s stock after selling 107,180 shares during the quarter. Rafferty Asset Management LLC’s holdings in American Express were worth $9,289,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Matthew Goff Investment Advisor LLC bought a new position in shares of American Express in the 1st quarter worth about $2,543,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of American Express by 10.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after buying an additional 554 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of American Express by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after buying an additional 722,235 shares during the last quarter. Rothschild Asset Management Inc. lifted its position in shares of American Express by 19.5% in the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after buying an additional 104,647 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in American Express in the 2nd quarter valued at about $215,000. Institutional investors own 84.12% of the company’s stock.
In other news, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,845 shares of company stock worth $13,197,233. 0.67% of the stock is currently owned by insiders.
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American Express Company (AXP) opened at $93.52 on Monday. The firm has a market cap of $81,175.00, a P/E ratio of 17.92, a PEG ratio of 1.56 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 1 year low of $69.65 and a 1 year high of $96.90.
American Express (NYSE:AXP) last released its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. research analysts predict that American Express Company will post 5.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were given a $0.35 dividend. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, October 5th. American Express’s dividend payout ratio (DPR) is 26.97%.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research report on Wednesday, November 1st. Stephens set a $89.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. Buckingham Research assumed coverage on shares of American Express in a research report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Finally, BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus price target of $91.56.
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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