American Century Companies Inc. decreased its position in American Express (NYSE:AXP) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 5,500,178 shares of the payment services company’s stock after selling 22,280 shares during the quarter. American Express comprises approximately 0.6% of American Century Companies Inc.’s investment portfolio, making the stock its 27th largest position. American Century Companies Inc.’s holdings in American Express were worth $585,714,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of American Express by 969.9% during the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock valued at $939,396,000 after acquiring an additional 8,689,714 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of American Express during the second quarter valued at $127,567,000. Millennium Management LLC increased its holdings in shares of American Express by 84.3% during the second quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock valued at $228,251,000 after acquiring an additional 1,065,461 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of American Express by 380.8% during the second quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock valued at $18,049,000 after acquiring an additional 631,457 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of American Express by 1.4% during the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after acquiring an additional 626,323 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.
Several equities analysts have recently weighed in on AXP shares. Nomura raised their price target on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 19th. UBS Group upgraded American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Oppenheimer set a $113.00 price objective on American Express and gave the stock a “buy” rating in a report on Wednesday, July 18th. Wells Fargo & Co lifted their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Finally, BMO Capital Markets lifted their price objective on American Express from $106.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $112.70.
Shares of NYSE:AXP opened at $104.98 on Wednesday. The stock has a market capitalization of $88.60 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.40 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 52-week low of $87.54 and a 52-week high of $111.77.
American Express (NYSE:AXP) last announced its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $1.50 earnings per share. As a group, equities analysts anticipate that American Express will post 7.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.49%. This is a boost from American Express’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, October 4th. American Express’s dividend payout ratio (DPR) is presently 26.58%.
In other news, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $0.17 per share, with a total value of $3,424,160.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott Murcray bought 350,000 shares of the company’s stock in a transaction on Monday, September 3rd. The stock was purchased at an average cost of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.
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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