Acadian Asset Management LLC Purchases 156,729 Shares of American Express Company (AXP)
Acadian Asset Management LLC lifted its position in shares of American Express Company (NYSE:AXP) by 359.9% in the fourth quarter, Holdings Channel reports. The fund owned 200,271 shares of the payment services company’s stock after buying an additional 156,729 shares during the period. Acadian Asset Management LLC’s holdings in American Express were worth $19,890,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AXP. 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 valued at $109,000 after purchasing an additional 300 shares during the last quarter. Zions Bancorporation increased its holdings in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after purchasing an additional 1,205 shares during the last quarter. Capital Analysts LLC bought a new stake in American Express in the second quarter valued at about $115,000. 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 valued at $122,000 after purchasing an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 83.36% of the company’s stock.
In related news, insider Anre D. Williams sold 30,761 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction that occurred 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 have sold 442,869 shares of company stock valued at $42,823,869 over the last ninety days. 0.67% of the stock is owned by insiders.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 25.12% and a net margin of 8.08%. American Express’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. research analysts anticipate that American Express Company will post 7.26 EPS for the current fiscal year.
The company 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. American Express’s dividend payout ratio is currently 46.82%.
A number of equities research analysts recently commented on AXP shares. Barclays upped their price objective on American Express from $112.00 to $119.00 in a report on Friday. Bank of America reiterated a “buy” rating and issued a $102.00 price objective on shares of American Express in a report on Monday, October 9th. Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 price objective on shares of American Express in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, sixteen 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 $100.80.
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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