We Are One Seven LLC grew its holdings in shares of American Express (NYSE:AXP) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,702 shares of the payment services company’s stock after purchasing an additional 1,190 shares during the period. We Are One Seven LLC’s holdings in American Express were worth $623,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. FMR LLC increased its position in shares of American Express by 49.5% in the 4th quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after acquiring an additional 8,136,470 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in American Express by 9,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,340,593 shares of the payment services company’s stock worth $77,000 after purchasing an additional 7,261,819 shares in the last quarter. Norges Bank purchased a new position in American Express in the 4th quarter worth approximately $643,757,000. Matthew Goff Investment Advisor LLC lifted its stake in American Express by 9,700.1% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,829,970 shares of the payment services company’s stock worth $49,285,000 after purchasing an additional 4,780,685 shares in the last quarter. Finally, Morgan Stanley lifted its stake in American Express by 20.8% in the 3rd quarter. Morgan Stanley now owns 6,393,693 shares of the payment services company’s stock worth $680,864,000 after purchasing an additional 1,098,834 shares in the last quarter. 84.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Wells Fargo & Co reissued a “buy” rating and issued a $125.00 target price (up from $115.00) on shares of American Express in a research note on Tuesday, March 12th. Credit Suisse Group restated a “hold” rating and set a $93.00 price target on shares of American Express in a report on Friday, January 18th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Bank of America reaffirmed a “neutral” rating and set a $108.00 price objective on shares of American Express in a research report on Thursday, March 14th. Finally, Morgan Stanley reduced their price target on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $111.80.
In other news, EVP Richard Petrino sold 2,444 shares of the stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the sale, the executive vice president now owns 7,591 shares of the company’s stock, valued at $813,072.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Shares of NYSE AXP traded down $0.44 on Wednesday, hitting $111.44. The company’s stock had a trading volume of 73,043 shares, compared to its average volume of 3,433,341. American Express has a 12-month low of $89.05 and a 12-month high of $114.55. The company has a market capitalization of $93.22 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.11. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.93 and a quick ratio of 1.93.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.06). American Express had a net margin of 17.08% and a return on equity of 30.35%. The business had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that American Express will post 8.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is 21.28%.
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