Tower Bridge Advisors Decreases Position in American Express Company (AXP)
Tower Bridge Advisors lowered its stake in shares of American Express Company (NYSE:AXP) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,350 shares of the payment services company’s stock after selling 2,613 shares during the period. Tower Bridge Advisors’ holdings in American Express Company were worth $1,056,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. SeaBridge Investment Advisors LLC acquired a new stake in shares of American Express Company during the first quarter valued at about $100,000. MCF Advisors LLC increased its stake in shares of American Express Company by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of American Express Company during the fourth quarter valued at about $111,000. SpiderRock Advisors LLC acquired a new stake in shares of American Express Company during the first quarter valued at about $112,000. Finally, Capital Guardian Trust Co. increased its stake in shares of American Express Company by 23.6% in the fourth quarter. Capital Guardian Trust Co. now owns 1,717 shares of the payment services company’s stock valued at $127,000 after buying an additional 328 shares in the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.
American Express Company (AXP) opened at 81.45 on Friday. American Express Company has a 52-week low of $57.15 and a 52-week high of $82.00. The firm has a 50-day moving average price of $78.54 and a 200-day moving average price of $77.55. The company has a market cap of $72.80 billion, a PE ratio of 14.70 and a beta of 1.19. American Express Company also was the target of unusually large options trading on Wednesday. Investors acquired 1,288 put options on the company. This represents an increase of 306% compared to the typical daily volume of 317 put options.
American Express Company (NYSE:AXP) last announced its earnings results on Wednesday, April 19th. The payment services company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.06. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.76 billion. American Express Company had a return on equity of 25.24% and a net margin of 16.24%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. On average, analysts forecast that American Express Company will post $5.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. American Express Company’s dividend payout ratio is currently 23.19%.
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A number of research firms have recently weighed in on AXP. Keefe, Bruyette & Woods reissued a “buy” rating and set a $91.00 target price on shares of American Express Company in a report on Monday, April 10th. Piper Jaffray Companies reissued a “neutral” rating and set a $83.00 target price (up previously from $82.00) on shares of American Express Company in a report on Saturday, April 22nd. BMO Capital Markets reissued a “hold” rating and set a $84.00 target price on shares of American Express Company in a report on Thursday, June 1st. Zacks Investment Research raised American Express Company from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Thursday, March 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 target price on shares of American Express Company in a report on Saturday, April 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $82.71.
In other American Express Company news, EVP Marc D. Gordon sold 4,900 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total value of $377,202.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas E. Buckminster sold 3,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $79.24, for a total value of $237,720.00. Following the completion of the transaction, the insider now owns 55,486 shares in the company, valued at $4,396,710.64. The disclosure for this sale can be found here. Insiders sold a total of 54,850 shares of company stock worth $4,407,543 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.
About American Express Company
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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