Jackson Park Capital LLC Lowers Stake in American Express Co. (AXP)
Jackson Park Capital LLC decreased its position in shares of American Express Co. (NYSE:AXP) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,000 shares of the payment services company’s stock after selling 1,000 shares during the period. Jackson Park Capital LLC’s holdings in American Express were worth $851,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AXP. Dodge & Cox increased its stake in shares of American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of American Express by 1.5% in the first quarter. Geode Capital Management LLC now owns 7,043,508 shares of the payment services company’s stock worth $431,641,000 after buying an additional 106,804 shares in the last quarter. BlackRock Group LTD increased its stake in shares of American Express by 0.6% in the first quarter. BlackRock Group LTD now owns 6,334,381 shares of the payment services company’s stock worth $388,930,000 after buying an additional 40,575 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of American Express by 248.1% in the first quarter. Franklin Resources Inc. now owns 5,345,813 shares of the payment services company’s stock worth $328,233,000 after buying an additional 3,810,315 shares in the last quarter. 82.17% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded down 1.65% during mid-day trading on Tuesday, reaching $60.88. 1,536,642 shares of the company’s stock were exchanged. American Express Co. has a 52-week low of $50.27 and a 52-week high of $77.61. The stock’s 50-day moving average is $64.42 and its 200-day moving average is $63.67. The stock has a market cap of $56.24 billion, a price-to-earnings ratio of 10.77 and a beta of 1.24.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts expect that American Express Co. will post $5.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is presently 22.54%.
Several research analysts have commented on AXP shares. Piper Jaffray Cos. restated a “hold” rating and issued a $71.00 target price on shares of American Express in a research report on Wednesday, September 7th. William Blair restated an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $74.00 target price on shares of American Express in a research report on Monday, September 12th. Deutsche Bank AG restated a “hold” rating on shares of American Express in a research report on Wednesday, June 15th. Finally, Atlantic Securities started coverage on shares of American Express in a research report on Friday, September 9th. They issued an “underweight” rating and a $62.00 target price for the company. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $68.46.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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