Nationwide Fund Advisors Sells 14,413 Shares of American Express Company (AXP)
Nationwide Fund Advisors lessened its position in American Express Company (NYSE:AXP) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 429,428 shares of the payment services company’s stock after selling 14,413 shares during the quarter. Nationwide Fund Advisors’ holdings in American Express were worth $38,846,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in AXP. Matthew Goff Investment Advisor LLC bought a new position in American Express in the first quarter valued at approximately $2,543,000. Bronfman E.L. Rothschild L.P. grew its stake in American Express by 10.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after purchasing an additional 554 shares in the last quarter. Vanguard Group Inc. grew its stake in American Express by 1.5% in the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. grew its stake in American Express by 19.5% in the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after purchasing an additional 104,647 shares in the last quarter. Finally, Shelton Capital Management bought a new position in American Express in the second quarter valued at approximately $670,000. 83.35% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on AXP shares. Bank of America restated a “buy” rating and issued a $102.00 price target on shares of American Express in a research note on Monday, October 9th. 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 note 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 note on Saturday, August 19th. Oppenheimer set a $99.00 target price on American Express and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Morgan Stanley reduced their target price on 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. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target 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, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. analysts predict that American Express Company will post 5.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s dividend payout ratio is presently 26.97%.
In other American Express news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders sold a total of 217,199 shares of company stock valued at $20,484,750 over the last ninety days. Insiders own 0.67% of the company’s stock.
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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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