American Express Co. (AXP) Position Maintained by Meyer Handelman Co.
Meyer Handelman Co. maintained its stake in American Express Co. (NYSE:AXP) during the third quarter, Holdings Channel reports. The firm owned 44,892 shares of the payment services company’s stock at the end of the third quarter. Meyer Handelman Co.’s holdings in American Express were worth $2,875,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC boosted its stake in shares of American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares in the last quarter. Blume Capital Management Inc. boosted its stake in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares during the period. Advisory Services Network LLC boosted its stake in American Express by 10.4% in the third quarter. Advisory Services Network LLC now owns 2,140 shares of the payment services company’s stock valued at $137,000 after buying an additional 201 shares during the period. Alpha Windward LLC boosted its stake in American Express by 1.3% in the third quarter. Alpha Windward LLC now owns 2,392 shares of the payment services company’s stock valued at $153,000 after buying an additional 31 shares during the period. Finally, Clean Yield Group boosted its stake in American Express by 3.9% in the third quarter. Clean Yield Group now owns 2,453 shares of the payment services company’s stock valued at $157,000 after buying an additional 91 shares during the period. 80.82% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded up 0.77% during mid-day trading on Wednesday, hitting $72.04. 4,812,489 shares of the company traded hands. American Express Co. has a 52-week low of $50.27 and a 52-week high of $73.18. The firm has a market cap of $65.93 billion, a price-to-earnings ratio of 12.80 and a beta of 1.19. The firm has a 50-day moving average price of $67.63 and a 200 day moving average price of $64.80.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.28. The firm had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.70 billion. American Express had a net margin of 16.67% and a return on equity of 27.84%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Equities research analysts anticipate that American Express Co. will post $5.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.28 annualized dividend and a yield of 1.78%. American Express’s payout ratio is 22.70%.
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AXP has been the subject of several analyst reports. Vetr raised shares of American Express from a “strong sell” rating to a “sell” rating and set a $57.00 price target for the company in a research note on Tuesday, October 18th. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Friday, November 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of American Express in a research note on Saturday, October 22nd. Credit Suisse Group AG reissued a “sell” rating and issued a $62.00 price target on shares of American Express in a research note on Friday, September 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 price target on shares of American Express in a research note on Monday, September 12th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.65.
In other American Express news, insider Ashwini Gupta sold 146,030 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $72.28, for a total transaction of $10,555,048.40. Following the completion of the sale, the insider now owns 298,910 shares in the company, valued at $21,605,214.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 19,186 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the sale, the insider now owns 56,870 shares of the company’s stock, valued at approximately $4,006,491.50. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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