Rathbone Brothers plc boosted its holdings in American Express (NYSE:AXP) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,012 shares of the payment services company’s stock after buying an additional 728 shares during the period. Rathbone Brothers plc’s holdings in American Express were worth $589,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Certified Advisory Corp bought a new position in American Express in the 4th quarter worth approximately $101,000. Archford Capital Strategies LLC bought a new position in American Express in the 1st quarter worth approximately $123,000. Private Ocean LLC increased its position in American Express by 14,070.0% in the 1st quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock worth $132,000 after buying an additional 1,407 shares during the period. Guidant Wealth Advisors increased its position in American Express by 280.7% in the 2nd quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock worth $150,000 after buying an additional 595 shares during the period. Finally, Point72 Asia Hong Kong Ltd bought a new position in American Express in the 1st quarter worth approximately $151,000. 82.88% of the stock is currently owned by institutional investors.
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AXP opened at $101.15 on Wednesday. The company has a market cap of $86.63 billion, a PE ratio of 15.71, a PEG ratio of 1.36 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.67. American Express has a 1 year low of $83.33 and a 1 year high of $103.24.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.15. The business had revenue of $9.72 billion for the quarter, compared to analysts’ expectations of $9.49 billion. American Express had a return on equity of 28.41% and a net margin of 8.79%. American Express’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. research analysts predict that American Express will post 7.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 5th. American Express’s dividend payout ratio is 23.85%.
American Express announced that its Board of Directors has approved a stock buyback plan on Thursday, June 28th that authorizes the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
AXP has been the topic of several recent analyst reports. UBS Group initiated coverage on American Express in a research report on Tuesday, March 27th. They issued a “buy” rating and a $111.00 price target on the stock. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Guggenheim reaffirmed a “hold” rating and issued a $104.00 price target on shares of American Express in a research report on Thursday, April 19th. Citigroup initiated coverage on American Express in a research report on Thursday, April 5th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Barclays lifted their price target on American Express from $112.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $107.96.
In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total value of $882,450.00. Following the sale, the chief financial officer now owns 79,978 shares of the company’s stock, valued at approximately $7,841,842.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas E. Buckminster sold 3,804 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $99.03, for a total value of $376,710.12. Following the completion of the sale, the insider now directly owns 19,514 shares in the company, valued at approximately $1,932,471.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,936 shares of company stock worth $8,082,400. 0.20% of the stock is owned by insiders.
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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