Birch Hill Investment Advisors LLC Acquires Shares of 2,472 American Express Company (AXP)
Birch Hill Investment Advisors LLC acquired a new position in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,472 shares of the payment services company’s stock, valued at approximately $208,000.
A number of other hedge funds have also recently bought and sold shares of AXP. MCF Advisors LLC grew its holdings in shares of American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express during the 2nd quarter worth $115,000. SRS Capital Advisors Inc. grew its holdings in shares of American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 84.66% of the company’s stock.
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Shares of American Express Company (NYSE:AXP) opened at $93.52 on Friday. The firm has a market capitalization of $81,174.98, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 1-year low of $69.65 and a 1-year high of $96.90.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. equities analysts anticipate that American Express Company will post 5.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Thursday, October 5th. American Express’s payout ratio is presently 26.97%.
In other American Express news, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,845 shares of company stock valued at $13,197,233. 0.67% of the stock is currently owned by corporate insiders.
Several analysts have recently issued reports on AXP shares. Morgan Stanley reduced their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reaffirmed a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. BidaskClub lowered American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus price target of $91.56.
About American Express
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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