American Express (AXP) Position Cut by Buckhead Capital Management LLC
Buckhead Capital Management LLC decreased its position in shares of American Express (NYSE:AXP) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,197 shares of the payment services company’s stock after selling 6,903 shares during the period. American Express comprises approximately 2.0% of Buckhead Capital Management LLC’s holdings, making the stock its 7th biggest holding. Buckhead Capital Management LLC’s holdings in American Express were worth $9,156,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Analysts LLC bought a new stake in shares of American Express in the 2nd quarter worth about $115,000. Zions Bancorporation increased its position in shares of American Express by 912.9% in the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after purchasing an additional 1,205 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after purchasing an additional 8 shares during the last quarter. WFG Advisors LP increased its position in shares of American Express by 38.8% in the 2nd quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock worth $132,000 after purchasing an additional 438 shares during the last quarter. Finally, Fusion Family Wealth LLC bought a new stake in shares of American Express in the 4th quarter worth about $146,000. 83.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Express (AXP) opened at $91.72 on Friday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37. American Express has a 1 year low of $75.51 and a 1 year high of $102.39. The firm has a market cap of $82,660.00, a PE ratio of 30.68, a P/E/G ratio of 1.21 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 4th. American Express’s dividend payout ratio is presently 46.82%.
Several research firms have recently weighed in on AXP. Morgan Stanley boosted their target price on shares of American Express from $108.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. TheStreet downgraded shares of American Express from a “b+” rating to a “c+” rating in a research report on Thursday, January 18th. Guggenheim downgraded shares of American Express from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $98.03 to $102.00 in a research report on Monday, January 22nd. Barclays boosted their target price on shares of American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Finally, Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $101.56.
In other American Express news, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the completion of the transaction, the insider now directly owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The disclosure for this sale can be found here. Insiders have sold a total of 326,110 shares of company stock valued at $31,858,001 over the last three months. 0.67% of the stock is currently owned by company insiders.
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American Express 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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