Keybank National Association OH Reduces Stake in American Express Company (AXP)
Keybank National Association OH decreased its holdings in American Express Company (NYSE:AXP) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,399 shares of the payment services company’s stock after selling 6,550 shares during the period. Keybank National Association OH’s holdings in American Express were worth $15,776,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AXP. MCF Advisors LLC increased its holdings in American Express by 0.3% in 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 last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in American Express by 30.4% in 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 last quarter. Capital Analysts LLC acquired a new position in American Express in the second quarter worth approximately $115,000. Westside Investment Management Inc. increased its holdings in American Express by 36.7% in 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 last quarter. Finally, MV Capital Management Inc. increased its holdings in American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after buying an additional 49 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.
In other news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ashwini Gupta sold 90,658 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were 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 directly owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The disclosure for this sale can be found here. Insiders sold 343,870 shares of company stock valued at $33,094,717 over the last three months. 0.67% of the stock is owned by company insiders.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the business earned $1.24 earnings per share. American Express’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities research analysts forecast that American Express Company will post 5.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. American Express’s dividend payout ratio is 26.97%.
A number of research firms recently commented on AXP. Bank of America increased their price objective on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Barclays set a $93.00 price objective on American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and issued a $93.00 price objective (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Buckingham Research began coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, August 29th. Three equities research 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 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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