Royal Bank of Scotland Group PLC increased its stake in American Express (NYSE:AXP) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,579 shares of the payment services company’s stock after acquiring an additional 2,442 shares during the period. American Express comprises about 4.5% of Royal Bank of Scotland Group PLC’s holdings, making the stock its 9th largest holding. Royal Bank of Scotland Group PLC’s holdings in American Express were worth $24,555,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Destination Wealth Management lifted its stake in shares of American Express by 165.4% in the 2nd quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after acquiring an additional 660 shares during the last quarter. Lenox Wealth Advisors LLC lifted its stake in shares of American Express by 1,173.8% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 986 shares during the last quarter. Tuttle Tactical Management bought a new stake in shares of American Express in the 2nd quarter valued at about $105,000. Sageworth Trust Co lifted its stake in shares of American Express by 455.6% in the 3rd quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of American Express by 67.7% in the 3rd quarter. Westside Investment Management Inc. now owns 1,595 shares of the payment services company’s stock valued at $171,000 after acquiring an additional 644 shares during the last quarter. 83.42% of the stock is owned by institutional investors.
In other news, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of American Express stock in a transaction on Thursday, August 30th. The shares were purchased at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marc D. Gordon sold 25,948 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares in the company, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
American Express (NYSE:AXP) last posted its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the business earned $1.50 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts expect that American Express will post 7.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were issued a dividend of $0.39 per share. This is an increase from American Express’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.47%. American Express’s dividend payout ratio is 26.58%.
A number of equities research analysts have recently weighed in on AXP shares. Stephens raised American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 target price for the company in a research note on Monday, September 17th. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Wells Fargo & Co boosted their target price on American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Oppenheimer reissued a “buy” rating and issued a $114.00 target price on shares of American Express in a research note on Thursday, October 18th. Finally, Nomura boosted their price target on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned 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 target price of $112.70.
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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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