Retirement Planning Co of New England Inc. bought a new stake in shares of American Express (NYSE:AXP – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,550 shares of the payment services company’s stock, valued at approximately $253,000.
Other institutional investors have also recently made changes to their positions in the company. Tower View Investment Management & Research LLC acquired a new position in shares of American Express during the third quarter valued at approximately $34,000. Consolidated Planning Corp acquired a new position in shares of American Express during the third quarter valued at approximately $34,000. Bell Investment Advisors Inc acquired a new position in shares of American Express during the third quarter valued at approximately $34,000. FSB Premier Wealth Management Inc. acquired a new position in shares of American Express during the fourth quarter valued at approximately $38,000. Finally, D Orazio & Associates Inc. acquired a new position in shares of American Express during the third quarter valued at approximately $43,000. 83.98% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Stephen J. Squeri sold 48,160 shares of the stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $178.38, for a total value of $8,590,780.80. Following the sale, the chief executive officer now directly owns 31,285 shares in the company, valued at $5,580,618.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 30,808 shares of the stock in a transaction on Monday, January 31st. The shares were sold at an average price of $175.57, for a total value of $5,408,960.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 488,337 shares of company stock valued at $89,685,314. Company insiders own 0.11% of the company’s stock.
American Express (NYSE:AXP – Get Rating) last released its quarterly earnings results on Friday, April 22nd. The payment services company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.41 by $0.32. American Express had a return on equity of 33.35% and a net margin of 17.49%. The business had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.66 billion. During the same period last year, the business posted $1.74 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Sell-side analysts expect that American Express will post 9.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 8th will be given a dividend of $0.52 per share. This is a positive change from American Express’s previous quarterly dividend of $0.43. This represents a $2.08 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, April 7th. American Express’s dividend payout ratio (DPR) is currently 20.84%.
A number of equities analysts have commented on AXP shares. Wolfe Research reduced their target price on American Express from $240.00 to $226.00 in a report on Thursday, March 17th. Royal Bank of Canada upped their price target on American Express from $195.00 to $200.00 and gave the company a “sector perform” rating in a research report on Monday, April 25th. StockNews.com assumed coverage on American Express in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Daiwa Capital Markets upgraded American Express from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $215.00 in a research report on Thursday, February 10th. Finally, Barclays upped their price target on American Express from $182.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $196.47.
American Express Profile (Get Rating)
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; accounts payable expense management products and services; and travel and lifestyle services.
- Get a free copy of the StockNews.com research report on American Express (AXP)
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