Rathbone Brothers plc Boosts Position in American Express (AXP)
Rathbone Brothers plc increased its holdings in American Express (NYSE:AXP) by 254.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,315 shares of the payment services company’s stock after buying an additional 15,303 shares during the quarter. Rathbone Brothers plc’s holdings in American Express were worth $2,270,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Guidant Wealth Advisors lifted its holdings in American Express by 280.7% during the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after purchasing an additional 595 shares in the last quarter. Destination Wealth Management lifted its holdings in American Express by 165.4% during the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after purchasing an additional 660 shares in the last quarter. Lenox Wealth Advisors LLC lifted its holdings in American Express by 1,173.8% during the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 986 shares in the last quarter. Tuttle Tactical Management purchased a new position in American Express during the second quarter valued at approximately $105,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in American Express during the second quarter valued at approximately $148,000. 82.85% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total value of $897,570.00. Following the sale, the chief financial officer now owns 66,568 shares in the company, valued at $6,638,826.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $99.73, for a total transaction of $1,246,625.00. Following the completion of the sale, the chief executive officer now owns 191,971 shares in the company, valued at approximately $19,145,267.83. The disclosure for this sale can be found here. Insiders sold 47,448 shares of company stock worth $4,942,168 in the last 90 days. 0.20% of the stock is currently owned by company insiders.
AXP stock opened at $103.00 on Friday. American Express has a one year low of $87.54 and a one year high of $111.77. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $91.69 billion, a PE ratio of 17.55, a P/E/G ratio of 1.47 and a beta of 1.16.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 18th. The payment services company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.83 by $0.01. American Express had a net margin of 9.23% and a return on equity of 30.08%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.05 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that American Express will post 7.24 EPS for the current year.
American Express announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 28th that allows the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization allows the payment services company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, October 4th. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is currently 26.58%.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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