American Express (NYSE:AXP) Shares Bought by MML Investors Services LLC
MML Investors Services LLC increased its stake in shares of American Express (NYSE:AXP) by 57.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,609 shares of the payment services company’s stock after acquiring an additional 20,567 shares during the quarter. MML Investors Services LLC’s holdings in American Express were worth $6,187,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. FMR LLC increased its stake in American Express by 49.5% in the fourth quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after purchasing an additional 8,136,470 shares during the period. Oregon Public Employees Retirement Fund increased its stake in American Express by 9,218.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,340,593 shares of the payment services company’s stock valued at $77,000 after purchasing an additional 7,261,819 shares during the period. Norges Bank acquired a new position in American Express in the fourth quarter valued at $643,757,000. Egerton Capital UK LLP increased its stake in American Express by 18.4% in the first quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after purchasing an additional 1,452,890 shares during the period. Finally, Samlyn Capital LLC increased its stake in American Express by 327.7% in the fourth quarter. Samlyn Capital LLC now owns 1,286,390 shares of the payment services company’s stock valued at $122,619,000 after purchasing an additional 985,591 shares during the period. Institutional investors own 83.65% of the company’s stock.
A number of research firms have commented on AXP. Morgan Stanley upgraded shares of American Express from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $123.00 to $140.00 in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 target price on shares of American Express in a report on Friday, May 3rd. UBS Group downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price on the stock. in a report on Monday, April 29th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of American Express in a report on Tuesday, March 12th. Finally, ValuEngine raised shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $116.63.
Shares of NYSE:AXP traded down $0.37 during midday trading on Wednesday, hitting $122.86. The stock had a trading volume of 40,004 shares, compared to its average volume of 3,419,746. The company has a market cap of $102.56 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.40 and a beta of 1.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.63. American Express has a 1 year low of $89.05 and a 1 year high of $124.74.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.01. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 earnings per share. On average, research analysts forecast that American Express will post 8.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio is currently 21.28%.
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American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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