American Express (NYSE:AXP) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. lessened its stake in shares of American Express (NYSE:AXP) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 575,620 shares of the payment services company’s stock after selling 32,412 shares during the quarter. TD Asset Management Inc. owned 0.07% of American Express worth $57,706,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in American Express by 1.8% during the third quarter. BlackRock Inc. now owns 46,354,047 shares of the payment services company’s stock worth $4,646,992,000 after buying an additional 816,309 shares during the period. Fisher Asset Management LLC boosted its stake in shares of American Express by 4.1% in the second quarter. Fisher Asset Management LLC now owns 14,608,262 shares of the payment services company’s stock valued at $1,390,707,000 after purchasing an additional 569,150 shares during the period. Viking Global Investors LP boosted its stake in shares of American Express by 170.7% in the second quarter. Viking Global Investors LP now owns 10,497,498 shares of the payment services company’s stock valued at $999,362,000 after purchasing an additional 6,619,218 shares during the period. Morgan Stanley boosted its stake in shares of American Express by 25.3% in the first quarter. Morgan Stanley now owns 7,716,861 shares of the payment services company’s stock valued at $660,641,000 after purchasing an additional 1,559,432 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of American Express by 95.8% in the second quarter. Nordea Investment Management AB now owns 5,559,726 shares of the payment services company’s stock valued at $520,724,000 after purchasing an additional 2,719,850 shares during the period. 76.11% of the stock is owned by institutional investors.
In other American Express news, insider Douglas E. Buckminster sold 14,827 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.85, for a total transaction of $1,435,994.95. Following the sale, the insider now directly owns 96,633 shares in the company, valued at approximately $9,358,906.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anna Marrs sold 2,064 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $119.56, for a total transaction of $246,771.84. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
American Express (NYSE:AXP) last announced its earnings results on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). The business had revenue of $8.75 billion during the quarter, compared to analyst estimates of $8.71 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. The business’s revenue was down 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, equities research analysts predict that American Express will post 4.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th were issued a $0.43 dividend. The ex-dividend date was Thursday, October 8th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.53%. American Express’s payout ratio is 20.98%.
Several research analysts have recently commented on the stock. Wells Fargo & Company reissued a “sell” rating and issued a $90.00 price objective on shares of American Express in a research note on Wednesday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of American Express from $97.00 to $106.00 and gave the company an “underweight” rating in a research note on Friday, October 9th. Bank of America lowered shares of American Express from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $106.00 to $95.00 in a research note on Wednesday, September 23rd. Wolfe Research assumed coverage on shares of American Express in a research note on Friday, July 31st. They issued an “outperform” rating for the company. Finally, TheStreet raised shares of American Express from a “c” rating to a “b-” rating in a research note on Friday, October 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.04.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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