Flagship Harbor Advisors LLC reduced its stake in shares of American Express (NYSE:AXP) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,262 shares of the payment services company’s stock after selling 824 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in American Express were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vigilant Capital Management LLC acquired a new stake in American Express during the 4th quarter worth $38,000. Contravisory Investment Management Inc. raised its stake in shares of American Express by 187.7% during the fourth quarter. Contravisory Investment Management Inc. now owns 446 shares of the payment services company’s stock valued at $43,000 after acquiring an additional 291 shares during the last quarter. IMS Capital Management acquired a new stake in shares of American Express during the third quarter worth $75,000. Ironwood Financial llc lifted its stake in shares of American Express by 19.4% in the fourth quarter. Ironwood Financial llc now owns 731 shares of the payment services company’s stock valued at $70,000 after buying an additional 119 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of American Express during the third quarter valued at about $106,000. Institutional investors own 83.70% of the company’s stock.
A number of brokerages have issued reports on AXP. BMO Capital Markets boosted their price objective on shares of American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, October 19th. Credit Suisse Group restated a “hold” rating and set a $93.00 price target on shares of American Express in a research note on Friday, January 18th. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Barclays set a $118.00 target price on American Express and gave the stock a “hold” rating in a research report on Friday, December 14th. Finally, Wells Fargo & Co cut their price target on American Express from $122.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $110.99.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.06). The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.54 billion. American Express had a return on equity of 30.45% and a net margin of 17.08%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. As a group, equities research analysts predict that American Express will post 8.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 4th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, January 3rd. This represents a $1.56 annualized dividend and a yield of 1.45%. American Express’s dividend payout ratio is currently 21.28%.
In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $103.02, for a total value of $1,287,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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