American Express Company (AXP) Shares Bought by Ironwood Investment Counsel LLC
Ironwood Investment Counsel LLC boosted its position in shares of American Express Company (NYSE:AXP) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,550 shares of the payment services company’s stock after purchasing an additional 2,790 shares during the quarter. American Express comprises about 2.0% of Ironwood Investment Counsel LLC’s portfolio, making the stock its 11th biggest position. Ironwood Investment Counsel LLC’s holdings in American Express were worth $5,353,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in shares of American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC purchased a new position in shares of American Express in the 2nd quarter valued at $115,000. MV Capital Management Inc. increased its holdings in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares during the period. Finally, SRS Capital Advisors Inc. increased its holdings in shares of American Express by 10.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares during the period. Institutional investors own 84.12% of the company’s stock.
AXP has been the topic of a number of analyst reports. Guggenheim reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Barclays PLC reiterated a “buy” rating and issued a $83.00 price target on shares of American Express in a report on Thursday, July 20th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Bank of America Corporation restated a “buy” rating and set a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $91.56.
American Express Company (AXP) opened at $93.56 on Friday. The firm has a market capitalization of $80,949.33, a PE ratio of 17.87, a P/E/G ratio of 1.55 and a beta of 1.22. American Express Company has a fifty-two week low of $70.77 and a fifty-two week high of $96.90. 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 (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. analysts forecast that American Express Company will post 5.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were issued a $0.35 dividend. This is a boost 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 yield of 1.50%. American Express’s dividend payout ratio is presently 26.97%.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the business’s 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 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. Insiders sold a total of 146,345 shares of company stock valued at $13,716,103 in the last ninety days. 0.67% of the stock is currently owned by insiders.
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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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