Usca Ria LLC Decreases Holdings in American Express (AXP)

Usca Ria LLC cut its holdings in shares of American Express (NYSE:AXP) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,153 shares of the payment services company’s stock after selling 621 shares during the quarter. Usca Ria LLC’s holdings in American Express were worth $762,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AXP. FMR LLC raised its stake in shares of American Express by 969.9% during the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after acquiring an additional 8,689,714 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of American Express during the second quarter worth approximately $127,567,000. Millennium Management LLC raised its stake in shares of American Express by 84.3% during the second quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock worth $228,251,000 after acquiring an additional 1,065,461 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of American Express by 380.8% during the second quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock worth $18,049,000 after acquiring an additional 631,457 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of American Express by 1.4% during the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after acquiring an additional 626,323 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:AXP opened at $107.31 on Thursday. The firm has a market capitalization of $89.68 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.42 and a beta of 1.06. American Express has a twelve month low of $87.54 and a twelve month high of $111.77. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 31.26%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, analysts predict that American Express will post 7.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.56 annualized dividend and a yield of 1.45%. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is 26.58%.

Several research firms have commented on AXP. DZ Bank raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Royal Bank of Canada restated a “sell” rating and issued a $87.00 target price on shares of American Express in a report on Thursday, July 19th. BMO Capital Markets raised their target price on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. Finally, Wells Fargo & Co raised their target price on shares of American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $112.70.

In related news, major shareholder Ventures Fund Vii L.P. Vivo purchased 20,142,123 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Murcray purchased 350,000 shares of the business’s stock in a transaction that occurred on Monday, September 3rd. The stock was bought at an average price of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

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

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