Longview Partners Guernsey LTD Trims Stake in American Express Company (AXP)
Longview Partners Guernsey LTD reduced its position in American Express Company (NYSE:AXP) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,028,945 shares of the payment services company’s stock after selling 41,170 shares during the period. American Express accounts for about 0.5% of Longview Partners Guernsey LTD’s holdings, making the stock its 25th biggest holding. Longview Partners Guernsey LTD owned 0.12% of American Express worth $93,078,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Matthew Goff Investment Advisor LLC purchased a new stake in shares of American Express in the 1st quarter valued at about $2,543,000. Bronfman E.L. Rothschild L.P. raised its stake in American Express by 10.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after acquiring an additional 554 shares during the last quarter. Vanguard Group Inc. raised its stake in American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after acquiring an additional 722,235 shares during the last quarter. Shelton Capital Management purchased a new stake in American Express during the 2nd quarter valued at approximately $670,000. Finally, Rothschild Asset Management Inc. raised its stake in American Express by 19.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after acquiring an additional 104,647 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on AXP shares. Bank of America reaffirmed a “buy” rating and set a $102.00 price objective on shares of American Express in a research note on Monday, October 9th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the company a “buy” rating in a research note on Saturday, August 19th. Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Morgan Stanley reduced their price objective 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 given a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $91.56.
American Express (NYSE:AXP) last released its 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. 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 quarter in the previous year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. sell-side analysts forecast that American Express Company will post 5.86 earnings per share for the current fiscal 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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is currently 26.97%.
In related news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ashwini Gupta sold 90,658 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the sale, the insider now owns 289,996 shares in the company, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,199 shares of company stock worth $19,978,410. 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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