FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of American Express (NYSE:AXP) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,773 shares of the payment services company’s stock after buying an additional 628 shares during the period. American Express makes up about 1.3% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 14th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in American Express were worth $4,821,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Atlas Brown Inc. grew its holdings in shares of American Express by 3.0% during the 3rd quarter. Atlas Brown Inc. now owns 4,352 shares of the payment services company’s stock worth $729,000 after acquiring an additional 125 shares during the period. Archford Capital Strategies LLC lifted its stake in shares of American Express by 14.7% in the third quarter. Archford Capital Strategies LLC now owns 1,879 shares of the payment services company’s stock worth $315,000 after buying an additional 241 shares in the last quarter. Norway Savings Bank lifted its stake in shares of American Express by 53.8% in the third quarter. Norway Savings Bank now owns 1,098 shares of the payment services company’s stock worth $184,000 after buying an additional 384 shares in the last quarter. Atalanta Sosnoff Capital LLC bought a new position in American Express during the third quarter valued at approximately $41,547,000. Finally, Nadler Financial Group Inc. bought a new position in American Express during the third quarter valued at approximately $202,000. 86.78% of the stock is owned by institutional investors.
In other news, insider Marc D. Gordon sold 13,424 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, October 21st. The payment services company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.47. American Express had a net margin of 19.54% and a return on equity of 28.48%. The business had revenue of $10.93 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts predict that American Express will post 9.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 10th. Shareholders of record on Friday, October 8th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, October 7th. American Express’s dividend payout ratio is currently 17.97%.
Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of American Express from $178.00 to $189.00 and gave the stock a “neutral” rating in a research report on Monday, October 25th. Stephens raised their target price on shares of American Express from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, October 25th. Royal Bank of Canada raised their target price on shares of American Express from $185.00 to $195.00 and gave the company a “sector perform” rating in a research note on Monday, October 25th. BMO Capital Markets raised their target price on shares of American Express from $147.00 to $151.00 and gave the company a “market perform” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Finally, Oppenheimer raised their target price on shares of American Express from $193.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, October 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $176.68.
About American Express
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
Featured Story: Non-Fungible Token (NFT)
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.