Great Lakes Advisors LLC lowered its position in American Express (NYSE:AXP) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,504 shares of the payment services company’s stock after selling 15,589 shares during the quarter. American Express accounts for approximately 1.4% of Great Lakes Advisors LLC’s holdings, making the stock its 4th biggest holding. Great Lakes Advisors LLC owned 0.07% of American Express worth $64,404,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Coastal Investment Advisors Inc. boosted its stake in shares of American Express by 15.3% during the second quarter. Coastal Investment Advisors Inc. now owns 9,108 shares of the payment services company’s stock valued at $1,127,000 after acquiring an additional 1,208 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in American Express by 16.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 10,178 shares of the payment services company’s stock worth $1,256,000 after buying an additional 1,466 shares during the last quarter. Aperio Group LLC boosted its stake in American Express by 3.1% in the 2nd quarter. Aperio Group LLC now owns 566,433 shares of the payment services company’s stock worth $69,920,000 after buying an additional 16,907 shares during the last quarter. Aft Forsyth & Company Inc. boosted its stake in American Express by 1.1% in the 2nd quarter. Aft Forsyth & Company Inc. now owns 9,181 shares of the payment services company’s stock worth $1,133,000 after buying an additional 100 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in American Express by 306.2% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 144,420 shares of the payment services company’s stock worth $17,827,000 after buying an additional 108,870 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
A number of analysts have issued reports on the company. Cfra reissued a “hold” rating on shares of American Express in a research note on Friday, October 18th. William Blair reissued a “buy” rating on shares of American Express in a research note on Friday, October 18th. JPMorgan Chase & Co. set a $122.00 price target on American Express and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Jefferies Financial Group set a $130.00 price target on American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine lowered American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $124.96.
American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. On average, research analysts forecast that American Express will post 8.16 EPS for the current year.
The company also recently disclosed a 0.39000 dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.43 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Thursday, October 3rd. American Express’s dividend payout ratio is currently 23.47%.
In other news, insider Denise Pickett sold 2,400 shares of American Express stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $118.39, for a total value of $284,136.00. Following the transaction, the insider now directly owns 9,788 shares of the company’s stock, valued at approximately $1,158,801.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore Leonsis sold 8,420 shares of American Express stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total value of $980,424.80. Following the completion of the transaction, the director now directly owns 11,580 shares in the company, valued at $1,348,375.20. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock worth $3,039,511 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.
American Express Profile
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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