Thrivent Financial For Lutherans Has $2.40 Million Position in American Express Company (AXP)
Thrivent Financial For Lutherans boosted its stake in shares of American Express Company (NYSE:AXP) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,497 shares of the payment services company’s stock after purchasing an additional 604 shares during the quarter. Thrivent Financial For Lutherans’ holdings in American Express were worth $2,401,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after purchasing an additional 722,235 shares during the period. BlackRock Inc. boosted its position in American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares during the period. State Street Corp boosted its position in American Express by 1.8% during the 1st quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after acquiring an additional 731,315 shares during the period. Wellington Management Group LLP boosted its position in American Express by 21.7% during the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after acquiring an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in American Express by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after acquiring an additional 103,546 shares during the period. Institutional investors and hedge funds own 84.66% of the company’s stock.
American Express Company (AXP) opened at $93.52 on Friday. American Express Company has a twelve month low of $69.65 and a twelve month high of $96.90. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $81,374.65, a price-to-earnings ratio of 17.96, a PEG ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. American Express’s revenue for the quarter was up 8.5% compared to the same quarter last year. analysts expect that American Express Company will post 5.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a dividend of $0.35 per share. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. American Express’s payout ratio is currently 26.97%.
In other news, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total value of $8,586,219.18. Following the transaction, the insider now owns 289,996 shares in the company, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. Insiders have sold 140,845 shares of company stock worth $13,197,233 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Wednesday, November 1st. Atlantic Securities upgraded American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target for the company in a research report on Tuesday, October 24th. Jefferies Group LLC reiterated an “in-line” rating and set a $93.00 price target (up previously from $85.00) on shares of American Express in a research report on Thursday, October 19th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Finally, Stephens set a $89.00 price target on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.56.
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American Express Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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