Shelton Capital Management Buys New Holdings in American Express Company (AXP)
Shelton Capital Management bought a new position in shares of American Express Company (NYSE:AXP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,957 shares of the payment services company’s stock, valued at approximately $670,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. MCF Advisors LLC grew its holdings in American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after acquiring an additional 4 shares during the period. Appleton Partners Inc. MA grew its holdings in American Express by 0.3% during the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after acquiring an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in American Express by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after acquiring an additional 11 shares during the period. Bath Savings Trust Co grew its holdings in American Express by 0.3% during the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after acquiring an additional 14 shares during the period. Finally, Accredited Investors Inc. grew its holdings in American Express by 0.5% during the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after acquiring an additional 15 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the transaction, the insider now directly owns 289,996 shares of the company’s stock, valued at approximately $27,465,521.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders sold a total of 146,345 shares of company stock worth $13,716,103 over the last three months. 0.67% of the stock is owned by company insiders.
American Express Company (AXP) opened at $94.41 on Wednesday. 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 one year low of $70.87 and a one year high of $96.90. The firm has a market capitalization of $81,548.24, a P/E ratio of 18.00, a P/E/G ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 period last year, the business earned $1.24 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. research analysts predict that American Express Company will post 5.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio (DPR) is presently 26.97%.
A number of equities analysts recently weighed in on AXP shares. Stephens set a $89.00 price target on American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Buckingham Research started coverage on American Express in a research note on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price target on the stock. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reissued an “in-line” rating and issued a $93.00 price target (up previously from $85.00) on shares of American Express in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and an average target price of $91.56.
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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