Keybank National Association OH Has $11.25 Million Holdings in American Express (AXP)
Keybank National Association OH cut its holdings in shares of American Express (NYSE:AXP) by 25.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,615 shares of the payment services company’s stock after selling 35,890 shares during the quarter. Keybank National Association OH’s holdings in American Express were worth $11,247,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of AXP. FMR LLC lifted its position in American Express by 969.9% during the 2nd quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after buying an additional 8,689,714 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of American Express during the 2nd quarter worth about $127,567,000. Millennium Management LLC increased its stake in shares of American Express by 84.3% during the 2nd quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock worth $228,251,000 after purchasing an additional 1,065,461 shares during the last quarter. AKO Capital LLP acquired a new position in shares of American Express during the 3rd quarter worth about $74,355,000. Finally, Advisors Asset Management Inc. increased its stake in shares of American Express by 380.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock worth $18,049,000 after purchasing an additional 631,457 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
American Express stock opened at $108.25 on Tuesday. American Express has a 1-year low of $87.54 and a 1-year high of $111.77. The firm has a market capitalization of $93.51 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, October 4th. American Express’s dividend payout ratio (DPR) is 26.58%.
In other news, major shareholder Ventures Fund Vii L.P. Vivo purchased 20,142,123 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were bought at an average cost of $0.17 per share, with a total value of $3,424,160.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott Murcray purchased 350,000 shares of the company’s stock in a transaction that occurred on Monday, September 3rd. The shares were purchased at an average cost of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.
Several research analysts have recently weighed in on AXP shares. Stephens set a $131.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, October 20th. Barclays boosted their price objective on shares of American Express from $113.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, October 19th. Morgan Stanley boosted their price objective on shares of American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, October 19th. Oppenheimer restated a “buy” rating and set a $114.00 price objective on shares of American Express in a research note on Thursday, October 18th. Finally, Bank of America set a $125.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $112.70.
About American Express
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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