Maverick Capital Ltd. Has $1.75 Million Stake in American Express Company (AXP)
Maverick Capital Ltd. grew its stake in shares of American Express Company (NYSE:AXP) by 146.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,770 shares of the payment services company’s stock after buying an additional 12,330 shares during the period. Maverick Capital Ltd.’s holdings in American Express were worth $1,750,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. lifted its holdings in American Express by 0.4% in the 1st quarter. Prudential Financial Inc. now owns 1,466,709 shares of the payment services company’s stock worth $116,031,000 after purchasing an additional 6,410 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in American Express by 592.2% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 895,790 shares of the payment services company’s stock worth $70,866,000 after purchasing an additional 766,381 shares in the last quarter. Wayne Hummer Investments L.L.C. lifted its holdings in American Express by 81.5% in the 1st quarter. Wayne Hummer Investments L.L.C. now owns 15,237 shares of the payment services company’s stock worth $1,205,000 after purchasing an additional 6,842 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in American Express by 14.2% in the 1st quarter. Victory Capital Management Inc. now owns 31,949 shares of the payment services company’s stock worth $2,527,000 after purchasing an additional 3,968 shares in the last quarter. Finally, Spinnaker Trust lifted its holdings in American Express by 16.7% in the 1st quarter. Spinnaker Trust now owns 4,636 shares of the payment services company’s stock worth $367,000 after purchasing an additional 664 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Insiders sold a total of 146,345 shares of company stock valued at $13,716,103 over the last quarter. Company insiders own 0.67% of the company’s stock.
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American Express Company (AXP) opened at $93.82 on Thursday. American Express Company has a 12-month low of $71.38 and a 12-month high of $96.90. The company has a market capitalization of $81,947.52, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities research analysts expect that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.49%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio is currently 26.97%.
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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