American Express (AXP) Holdings Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of American Express (NYSE:AXP) by 16.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,688 shares of the payment services company’s stock after buying an additional 19,881 shares during the period. Janney Montgomery Scott LLC’s holdings in American Express were worth $14,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in 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 buying an additional 626,323 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in American Express by 2.4% during the third quarter. Fisher Asset Management LLC now owns 10,357,743 shares of the payment services company’s stock worth $1,102,996,000 after buying an additional 246,871 shares during the last quarter. FMR LLC boosted its holdings in 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 buying an additional 8,689,714 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of American Express by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock valued at $541,201,000 after purchasing an additional 282,496 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of American Express by 2.2% during the 2nd quarter. Boston Partners now owns 4,911,540 shares of the payment services company’s stock valued at $481,331,000 after purchasing an additional 103,576 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

AXP has been the topic of several recent analyst reports. Stephens set a $131.00 price objective on American Express and gave the company a “buy” rating in a report on Saturday, October 20th. Barclays lifted their price objective on American Express from $113.00 to $115.00 and gave the company a “hold” rating in a report on Friday, October 19th. Morgan Stanley lifted their price objective on American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, October 19th. Bank of America set a $125.00 price objective on American Express and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Oppenheimer reiterated a “buy” rating and set a $114.00 price objective on shares of American Express in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $112.70.

In other news, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $0.17 per share, with a total value of $3,424,160.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $103.84, for a total value of $1,298,000.00. Following the completion of the sale, the chairman now directly owns 209,957 shares in the company, valued at approximately $21,801,934.88. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Shares of American Express stock opened at $108.28 on Friday. American Express has a 52-week low of $87.54 and a 52-week high of $111.77. The company has a market capitalization of $91.67 billion, a P/E ratio of 18.45, a PEG ratio of 1.45 and a beta of 1.06. 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 announced its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the firm earned $1.50 EPS. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts forecast that American Express will post 7.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, October 5th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, October 4th. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is currently 26.58%.

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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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