Fulton Breakefield Broenniman LLC acquired a new position in shares of American Express (NYSE:AXP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,318 shares of the payment services company’s stock, valued at approximately $289,000.
A number of other hedge funds have also recently modified their holdings of AXP. Corbenic Partners LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $34,000. First Command Bank boosted its position in American Express by 5.4% during the 4th quarter. First Command Bank now owns 2,272 shares of the payment services company’s stock worth $283,000 after buying an additional 116 shares during the period. 6 Meridian boosted its position in American Express by 2.0% during the 4th quarter. 6 Meridian now owns 55,056 shares of the payment services company’s stock worth $6,854,000 after buying an additional 1,104 shares during the period. Johanson Financial Advisors Inc. acquired a new stake in American Express during the 4th quarter worth approximately $419,000. Finally, Central Bank & Trust Co. grew its holdings in American Express by 1.3% during the 4th quarter. Central Bank & Trust Co. now owns 35,085 shares of the payment services company’s stock worth $4,368,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
In other news, insider Denise Pickett sold 2,400 shares of American Express stock in a transaction on Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the sale, the insider now owns 9,788 shares in the company, valued at approximately $1,158,801.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore Leonsis sold 8,420 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total transaction of $980,424.80. Following the transaction, the director now owns 11,580 shares in the company, valued at approximately $1,348,375.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,820 shares of company stock valued at $3,033,961. Corporate insiders own 0.21% of the company’s stock.
American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) 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 net margin of 16.51% and a return on equity of 29.68%. American Express’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 earnings per share. Sell-side analysts anticipate that American Express will post 8.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.43 per share. This is an increase from American Express’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, January 2nd. American Express’s dividend payout ratio (DPR) is presently 23.47%.
Several equities analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Robert W. Baird initiated coverage on shares of American Express in a report on Wednesday, January 8th. They set a “neutral” rating and a $124.00 price target on the stock. Morgan Stanley boosted their price objective on shares of American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. ValuEngine downgraded American Express from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. Finally, Cfra restated a “hold” rating on shares of American Express in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $127.29.
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.
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