American Express (NYSE:AXP) Stock Position Lowered by PGGM Investments

PGGM Investments lessened its position in American Express (NYSE:AXP) by 26.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 248,768 shares of the payment services company’s stock after selling 90,228 shares during the quarter. PGGM Investments’ holdings in American Express were worth $30,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. OLD National Bancorp IN raised its holdings in shares of American Express by 5.0% in the 4th quarter. OLD National Bancorp IN now owns 6,877 shares of the payment services company’s stock worth $856,000 after acquiring an additional 330 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of American Express by 6.6% in the 4th quarter. Palisade Asset Management LLC now owns 8,584 shares of the payment services company’s stock valued at $1,069,000 after purchasing an additional 531 shares during the last quarter. Buckley Wealth Management LLC raised its position in shares of American Express by 4.8% in the 4th quarter. Buckley Wealth Management LLC now owns 11,315 shares of the payment services company’s stock valued at $1,409,000 after purchasing an additional 516 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of American Express by 3.1% in the 4th quarter. Wedbush Securities Inc. now owns 13,923 shares of the payment services company’s stock valued at $1,733,000 after purchasing an additional 413 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of American Express in the 4th quarter valued at approximately $309,000. 84.12% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on AXP shares. JPMorgan Chase & Co. set a $122.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, October 8th. Oppenheimer set a $126.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective 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. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Tuesday, December 10th. Finally, Cfra reaffirmed a “hold” rating on shares of American Express in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $127.29.

In other news, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the sale, the chief executive officer now owns 184,090 shares of the company’s stock, valued at approximately $21,715,256.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise Pickett sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $118.39, for a total transaction of $284,136.00. Following the sale, the insider now directly owns 9,788 shares in the company, valued at approximately $1,158,801.32. The disclosure for this sale can be found here. Insiders have sold a total of 25,820 shares of company stock worth $3,033,961 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

AXP opened at $131.52 on Friday. American Express has a 12-month low of $96.37 and a 12-month high of $131.86. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $107.62 billion, a PE ratio of 17.94, a P/E/G ratio of 1.35 and a beta of 1.05. The firm has a 50 day moving average of $124.13 and a two-hundred day moving average of $121.70.

American Express (NYSE:AXP) last posted its quarterly 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 net margin of 16.51% and a return on equity of 29.68%. The company had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the firm posted $1.88 EPS. American Express’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that American Express will post 8.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.43 per share. This is a boost from American Express’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.31%. American Express’s dividend payout ratio (DPR) is presently 23.47%.

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

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