Achmea Investment Management B.V. Has $7.95 Million Stake in American Express Company (AXP)
Achmea Investment Management B.V. lowered its holdings in shares of American Express Company (NYSE:AXP) by 7.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 94,379 shares of the payment services company’s stock after selling 7,395 shares during the period. Achmea Investment Management B.V.’s holdings in American Express were worth $7,946,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in AXP. MCF Advisors LLC increased its position in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares during the period. Capital Analysts LLC acquired a new stake in shares of American Express during the second quarter worth $115,000. SRS Capital Advisors Inc. increased its position in shares of American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares during the period. Finally, Westside Investment Management Inc. increased its position in shares of American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after buying an additional 410 shares during the period. 83.35% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on AXP shares. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley decreased 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 report on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Oppenheimer set a $99.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $91.56.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the firm earned $1.24 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. analysts predict that American Express Company will post 5.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is currently 26.97%.
In other American Express news, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ashwini Gupta sold 57,306 shares of American Express stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total transaction of $5,446,362.24. The disclosure for this sale can be found here. Insiders have sold 203,651 shares of company stock worth $19,162,465 over the last three months. 0.67% of the stock is owned by 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).
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