Lord Abbett & CO. LLC decreased its position in American Express (NYSE:AXP - Free Report) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 163,547 shares of the payment services company's stock after selling 105,396 shares during the period. Lord Abbett & CO. LLC's holdings in American Express were worth $44,354,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in American Express by 26,783.5% during the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company's stock valued at $2,467,210,000 after acquiring an additional 906,353 shares in the last quarter. FMR LLC increased its holdings in shares of American Express by 8.5% during the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock valued at $2,984,208,000 after purchasing an additional 866,110 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company's stock valued at $197,149,000 after purchasing an additional 768,301 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company's stock worth $185,079,000 after purchasing an additional 681,304 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in American Express by 71.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company's stock valued at $269,547,000 after buying an additional 486,755 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.
Insider Buying and Selling at American Express
In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares of the company's stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,998 shares of company stock worth $26,423,439 over the last ninety days. 0.12% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have commented on AXP. The Goldman Sachs Group boosted their price target on shares of American Express from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods upped their target price on American Express from $325.00 to $350.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on American Express from $286.00 to $301.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. Evercore ISI upped their price objective on American Express from $275.00 to $290.00 and gave the company an "in-line" rating in a report on Monday, October 7th. Finally, Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $259.45.
Check Out Our Latest Report on American Express
American Express Stock Up 0.6 %
NYSE:AXP traded up $1.84 on Friday, hitting $302.14. 1,661,963 shares of the company's stock traded hands, compared to its average volume of 2,856,218. The company has a market cap of $212.84 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. American Express has a 1 year low of $175.60 and a 1 year high of $307.82. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $286.46 and a 200-day moving average price of $259.81.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion during the quarter, compared to analysts' expectations of $16.68 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts anticipate that American Express will post 13.4 EPS for the current fiscal year.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, January 3rd. American Express's payout ratio is presently 20.60%.
About American Express
(
Free Report)
American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
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