FSI Group LLC Has $6.50 Million Position in American Express (NYSE:AXP)

FSI Group LLC decreased its position in shares of American Express (NYSE:AXP) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,937 shares of the payment services company’s stock after selling 6,057 shares during the quarter. American Express accounts for approximately 9.0% of FSI Group LLC’s investment portfolio, making the stock its 4th largest position. FSI Group LLC’s holdings in American Express were worth $6,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Magellan Asset Management Ltd raised its stake in American Express by 212,845.6% during the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after acquiring an additional 9,575,925 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after buying an additional 6,587,148 shares during the period. Morgan Stanley increased its stake in shares of American Express by 16.2% in the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after buying an additional 731,450 shares during the period. Capital Wealth Planning LLC increased its position in American Express by 3,750.4% during the 2nd quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock valued at $61,028,000 after purchasing an additional 481,554 shares during the period. Finally, Fisher Asset Management LLC increased its position in American Express by 3.5% during the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after purchasing an additional 381,084 shares during the period. 83.90% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $124.91, for a total value of $879,990.95. Following the sale, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

A number of analysts have weighed in on the stock. Wells Fargo & Co set a $140.00 target price on shares of American Express and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group set a $130.00 price target on American Express and gave the stock a “hold” rating in a report on Friday, July 19th. Oppenheimer set a $126.00 price target on American Express and gave the stock a “buy” rating in a report on Monday. William Blair restated a “buy” rating on shares of American Express in a report on Friday, October 18th. Finally, Cfra restated a “hold” rating on shares of American Express in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $124.49.

Shares of AXP traded down $0.10 during trading hours on Thursday, reaching $116.39. The stock had a trading volume of 414,448 shares, compared to its average volume of 3,209,550. American Express has a 12 month low of $89.05 and a 12 month high of $129.34. The firm has a 50-day simple moving average of $117.35 and a 200 day simple moving average of $119.85. The company has a current ratio of 1.86, a quick ratio of 1.84 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $97.06 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.45 and a beta of 1.06.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $1.88 EPS. American Express’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that American Express will post 8.16 EPS for the current year.

The business also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s payout ratio is currently 23.47%.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Net Income

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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