Calamos Advisors LLC Buys 4,097 Shares of American Express Company (AXP)
Calamos Advisors LLC raised its stake in shares of American Express Company (NYSE:AXP) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,639 shares of the payment services company’s stock after purchasing an additional 4,097 shares during the period. Calamos Advisors LLC’s holdings in American Express were worth $29,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of AXP. Rehmann Capital Advisory Group grew its stake in American Express by 26.1% in the third quarter. Rehmann Capital Advisory Group now owns 7,145 shares of the payment services company’s stock worth $646,000 after purchasing an additional 1,480 shares in the last quarter. Doyle Wealth Management bought a new position in American Express in the third quarter worth approximately $296,000. Korea Investment CORP grew its stake in American Express by 133.2% in the third quarter. Korea Investment CORP now owns 669,027 shares of the payment services company’s stock worth $60,520,000 after purchasing an additional 382,100 shares in the last quarter. Aperio Group LLC boosted its position in American Express by 3.4% during the 3rd quarter. Aperio Group LLC now owns 490,560 shares of the payment services company’s stock valued at $44,376,000 after acquiring an additional 16,176 shares in the last quarter. Finally, Braun Stacey Associates Inc. boosted its position in American Express by 55.8% during the 3rd quarter. Braun Stacey Associates Inc. now owns 4,675 shares of the payment services company’s stock valued at $423,000 after acquiring an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
AXP has been the topic of several recent research reports. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley dropped their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a 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 given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus price target of $91.56.
American Express (NYSE:AXP) last posted its quarterly earnings data 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. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the firm posted $1.24 EPS. American Express’s revenue was up 8.5% compared to the same quarter last year. equities research analysts anticipate that American Express Company will post 5.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 26.97%.
In other news, insider James Peter Bush sold 13,548 shares of American Express stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the sale, the insider now owns 90,052 shares of the company’s stock, valued at approximately $8,789,075.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold a total of 211,199 shares of company stock worth $19,978,410 over the last three months. Corporate insiders own 0.67% of the company’s stock.
About American Express
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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