Moors & Cabot Inc. Has $1.15 Million Stake in American Express Company (AXP)
Moors & Cabot Inc. lessened its stake in shares of American Express Company (NYSE:AXP) by 32.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,742 shares of the payment services company’s stock after selling 6,150 shares during the quarter. Moors & Cabot Inc.’s holdings in American Express were worth $1,153,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of American Express by 4.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of American Express by 10.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after purchasing an additional 554 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of American Express during the 3rd quarter worth about $5,505,000. Westpac Banking Corp increased its position in shares of American Express by 2.2% during the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after purchasing an additional 5,252 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of American Express during the 2nd quarter worth about $670,000. 83.35% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the transaction, the insider now directly owns 92,504 shares of the company’s stock, valued at $9,199,522.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,869 shares of company stock valued at $42,823,869. Corporate insiders own 0.67% of the company’s stock.
A number of brokerages recently issued reports on AXP. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets reissued a “hold” rating and set a $103.00 price objective on shares of American Express in a research report on Monday. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of American Express in a research report on Tuesday. Stephens set a $97.00 price objective on American Express and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Finally, Instinet began coverage on American Express in a research report on Wednesday, January 3rd. They set a “buy” rating and a $110.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. American Express has an average rating of “Hold” and a consensus price target of $97.84.
American Express Company (AXP) opened at $101.22 on Thursday. The firm has a market capitalization of $87,860.00, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express Company has a 52-week low of $75.39 and a 52-week high of $101.65.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. equities research analysts anticipate that American Express Company will post 5.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is presently 27.03%.
American Express Company 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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