5,524 Shares in American Express Company (AXP) Purchased by Bayesian Capital Management LP
Bayesian Capital Management LP acquired a new position in American Express Company (NYSE:AXP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,524 shares of the payment services company’s stock, valued at approximately $465,000.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of American Express by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. lifted its stake in shares of American Express by 1.1% in the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after buying an additional 508,030 shares during the last quarter. State Street Corp lifted its stake in shares of American Express by 1.8% in the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after buying an additional 731,315 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after buying an additional 3,071,573 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of American Express by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after buying an additional 103,546 shares during the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
American Express Company (AXP) opened at $93.69 on Friday. The stock has a market cap of $81,210.00, a PE ratio of 17.96, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 52-week low of $70.77 and a 52-week high of $96.90.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. analysts forecast that American Express Company will post 5.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were given a dividend of $0.35 per share. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.40 annualized dividend and a yield of 1.49%. American Express’s dividend payout ratio is 27.03%.
In related news, insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,345 shares of company stock worth $13,716,103. 0.67% of the stock is owned by corporate insiders.
AXP has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Credit Suisse Group restated a “sell” rating and issued a $79.00 price objective on shares of American Express in a research note on Wednesday, October 4th. Finally, Guggenheim restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the stock. American Express has a consensus rating of “Hold” and an average price target of $91.56.
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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