True North Advisors LLC Acquires Shares of 11,000 American Express (NYSE:AXP)

True North Advisors LLC acquired a new stake in shares of American Express (NYSE:AXPGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,000 shares of the payment services company’s stock, valued at approximately $1,799,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Morgan Stanley increased its holdings in shares of American Express by 6.7% during the second quarter. Morgan Stanley now owns 9,916,986 shares of the payment services company’s stock worth $1,638,584,000 after buying an additional 622,891 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of American Express by 24.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 42,529 shares of the payment services company’s stock worth $7,125,000 after buying an additional 8,225 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of American Express by 34.2% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 5,904 shares of the payment services company’s stock worth $989,000 after buying an additional 1,503 shares in the last quarter. PSI Advisors LLC acquired a new position in shares of American Express during the third quarter worth $87,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of American Express during the third quarter worth $237,000. Institutional investors and hedge funds own 85.49% of the company’s stock.

AXP traded down $0.76 on Friday, hitting $153.24. The company’s stock had a trading volume of 2,982,520 shares, compared to its average volume of 3,444,259. The company’s 50 day simple moving average is $177.84 and its 200-day simple moving average is $175.14. The firm has a market cap of $115.40 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. American Express has a 12 month low of $149.71 and a 12 month high of $199.55. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings data on Friday, April 22nd. The payment services company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.43 by $0.30. The company had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.66 billion. American Express had a net margin of 17.49% and a return on equity of 33.35%. American Express’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $1.74 EPS. Equities analysts predict that American Express will post 9.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, June 30th. American Express’s payout ratio is 20.84%.

In other American Express news, CEO Stephen J. Squeri sold 48,160 shares of the firm’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $178.38, for a total value of $8,590,780.80. Following the completion of the transaction, the chief executive officer now directly owns 31,285 shares of the company’s stock, valued at approximately $5,580,618.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price target for the company. in a report on Monday, April 11th. BMO Capital Markets boosted their price objective on shares of American Express from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 26th. Credit Suisse Group upped their price target on shares of American Express from $163.00 to $170.00 and gave the company an “underperform” rating in a research report on Wednesday, January 26th. Royal Bank of Canada increased their price objective on shares of American Express from $195.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Monday, April 25th. Finally, Wolfe Research cut shares of American Express from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $213.00 to $146.00 in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $192.26.

American Express Company Profile (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Further Reading

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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