Corient Capital Partners LLC increased its stake in American Express (NYSE:AXP) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,776 shares of the payment services company’s stock after acquiring an additional 440 shares during the quarter. Corient Capital Partners LLC’s holdings in American Express were worth $1,156,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AXP. Garrett Wealth Advisory Group LLC bought a new stake in American Express during the third quarter valued at about $27,000. Winthrop Partners WNY LLC acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $35,000. HMS Capital Management LLC acquired a new stake in shares of American Express in the 2nd quarter valued at approximately $37,000. Finally, Enterprise Trust & Investment Co acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $38,000. 84.72% of the stock is currently owned by institutional investors.
In related news, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore Leonsis sold 8,420 shares of American Express stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the sale, the director now directly owns 11,580 shares of the company’s stock, valued at approximately $1,348,375.20. The disclosure for this sale can be found here. Insiders have sold a total of 25,820 shares of company stock worth $3,039,511 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.
American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.07 by $0.01. The firm had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. Analysts forecast that American Express will post 8.17 earnings per share for the current year.
The business also recently announced a 0.39000 dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio (DPR) is currently 23.47%.
A number of analysts recently weighed in on AXP shares. Morgan Stanley increased their price target on shares of American Express from $142.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. set a $122.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, October 8th. ValuEngine upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Thursday. Cfra reiterated a “hold” rating on shares of American Express in a research report on Friday, October 18th. Finally, Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $124.96.
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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