Rampart Investment Management Company LLC lowered its holdings in American Express (NYSE:AXP) by 82.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,737 shares of the payment services company’s stock after selling 32,688 shares during the period. Rampart Investment Management Company LLC’s holdings in American Express were worth $642,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. JNBA Financial Advisors bought a new stake in shares of American Express during the 4th quarter valued at $26,000. Capital Investment Advisory Services LLC purchased a new position in shares of American Express in the 4th quarter worth about $37,000. Vigilant Capital Management LLC purchased a new position in American Express in the 4th quarter worth about $38,000. WESPAC Advisors SoCal LLC raised its position in American Express by 305.0% in the 4th quarter. WESPAC Advisors SoCal LLC now owns 405 shares of the payment services company’s stock worth $39,000 after buying an additional 305 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in American Express by 187.7% in the 4th quarter. Contravisory Investment Management Inc. now owns 446 shares of the payment services company’s stock worth $43,000 after buying an additional 291 shares during the last quarter. Institutional investors own 82.70% of the company’s stock.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $103.02, for a total value of $1,287,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the completion of the transaction, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.54 billion. During the same period in the prior year, the company posted $1.58 earnings per share. American Express’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts forecast that American Express will post 8.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.46%. American Express’s payout ratio is presently 21.28%.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Buckingham Research lowered American Express from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research note on Thursday, November 29th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Friday, December 14th. Barclays set a $118.00 price target on American Express and gave the company a “hold” rating in a research note on Friday, December 14th. Finally, Atlantic Securities upgraded American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective for the company in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.99.
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American Express Company 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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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