Tortoise Investment Management LLC Raises Stock Holdings in American Express (NYSE:AXP)
Tortoise Investment Management LLC boosted its holdings in American Express (NYSE:AXP) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,375 shares of the payment services company’s stock after purchasing an additional 150 shares during the period. Tortoise Investment Management LLC’s holdings in American Express were worth $171,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Pinnacle Financial Partners Inc. raised its stake in American Express by 10.5% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 61,914 shares of the payment services company’s stock valued at $7,707,000 after buying an additional 5,871 shares in the last quarter. Venture Visionary Partners LLC acquired a new stake in American Express during the fourth quarter valued at approximately $1,027,000. 9258 Wealth Management LLC raised its stake in American Express by 72.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,340 shares of the payment services company’s stock valued at $416,000 after buying an additional 1,404 shares in the last quarter. Davy Global Fund Management Ltd raised its stake in American Express by 35.0% during the fourth quarter. Davy Global Fund Management Ltd now owns 27,666 shares of the payment services company’s stock valued at $3,444,000 after buying an additional 7,174 shares in the last quarter. Finally, Boston Partners raised its stake in American Express by 7.0% during the fourth quarter. Boston Partners now owns 1,112,089 shares of the payment services company’s stock valued at $138,444,000 after buying an additional 72,946 shares in the last quarter. 84.23% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Laureen Seeger sold 27,571 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $136.04, for a total value of $3,750,758.84. Following the completion of the transaction, the insider now directly owns 53,739 shares of the company’s stock, valued at approximately $7,310,653.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond Joabar sold 17,544 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $131.21, for a total value of $2,301,948.24. Following the completion of the transaction, the insider now directly owns 23,159 shares of the company’s stock, valued at $3,038,692.39. The disclosure for this sale can be found here. Insiders have sold a total of 96,639 shares of company stock worth $12,649,661 over the last quarter. Insiders own 0.21% of the company’s stock.
Shares of American Express stock traded up $1.43 on Friday, reaching $135.89. 1,497,598 shares of the company were exchanged, compared to its average volume of 3,139,278. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.86 and a current ratio of 2.41. The company’s 50-day moving average is $129.30 and its two-hundred day moving average is $122.45. The firm has a market cap of $108.21 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.40 and a beta of 0.99. American Express has a 1-year low of $106.24 and a 1-year high of $138.13.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.03. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.36 billion. American Express had a return on equity of 30.24% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. As a group, sell-side analysts forecast that American Express will post 9.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from American Express’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 2nd. American Express’s dividend payout ratio is presently 20.98%.
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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