Carret Asset Management LLC Acquires 2,268 Shares of American Express Company (AXP)
Carret Asset Management LLC boosted its holdings in American Express Company (NYSE:AXP) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,182 shares of the payment services company’s stock after buying an additional 2,268 shares during the quarter. American Express accounts for about 1.0% of Carret Asset Management LLC’s investment portfolio, making the stock its 27th largest position. Carret Asset Management LLC’s holdings in American Express were worth $5,996,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of AXP. BlackRock Inc. grew its position in American Express by 2,686.0% in the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares during the last quarter. Wellington Management Group LLP grew its position in American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after buying an additional 3,071,573 shares during the last quarter. Veritas Asset Management LLP grew its position in American Express by 15.2% in the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC acquired a new position in American Express in the second quarter worth approximately $101,526,000. Finally, Canada Pension Plan Investment Board grew its position in American Express by 944,765.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after buying an additional 1,077,033 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Peter Bush sold 10,230 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,345 shares of company stock valued at $13,716,103. Company insiders own 0.67% of the company’s stock.
AXP has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Credit Suisse Group restated a “sell” rating and issued a $79.00 price target on shares of American Express in a research report on Wednesday, October 4th. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target on the stock in a research report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on shares of American Express in a research report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (AXP) opened at $93.82 on Thursday. The stock has a market cap of $81,947.52, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.57 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 52 week low of $71.38 and a 52 week high of $96.90.
American Express (NYSE:AXP) last released 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 firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. research analysts forecast that American Express Company will post 5.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a dividend of $0.35 per share. This is a positive change 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 1.49%. American Express’s payout ratio is currently 26.97%.
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).
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP).
Receive News & Ratings for American Express Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Company and related companies with MarketBeat.com's FREE daily email newsletter.