Chapman Investment Management LLC increased its stake in American Express (NYSE: AXP – Get Rating) by 7.9% in the third quarter, according to the latest Securities and Exchange Commission filings. The institutional investor owned his 22,302 shares in the payment services company after purchasing an additional 1,624 of his shares during the quarter. American Express accounts for his 2.2% of Chapman Investment Management LLC’s portfolio, making it the 20th largest position. Chapman Investment Management LLC’s American Express holdings were valued at $3,009,000 as of the latest SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares in the business. Legal & General Group Plc increased its holding of American Express by 2.4% in the second quarter. Legal & General Group Plc now owns 4,928,905 shares in the payment services company valued at $683.249 million after purchasing an additional 115,738 shares during the previous quarter. Robeco Institutional Asset Management BV increased its holding of American Express shares by 29.6% in the second quarter. Robeco Institutional Asset Management BV owns 193,646 shares of the payment services company valued at $26,840,000 after acquiring a further 44,222 shares during the previous quarter. Benjamin F. Edwards & Company Inc. increased his position in American Express shares by 4.9% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 22,653 shares of the payment services company worth $3,056,000 after acquiring an additional 1,052 of his shares last quarter. Gradient Investments LLC increased its stake in American Express by 9.4% in the third quarter. Gradient Investments LLC now owns 33,110 shares of the payment services company worth $4,467,000 after purchasing an additional 2,839 shares during the previous quarter. Finally, PFG Advisors increased its holding of American Express by 32.9% in the second quarter. PFG Advisors now owns 4,938 shares of the payment services company valued at $685,000 after purchasing an additional 1,222 shares during this period. 83.30% of the shares are currently owned by hedge funds and other institutional investors.
American Express Price Performance
NYSE:AXP shares opened Friday at $155.76. American Express has a 12-month low of $130.65 and a 12-month high of $199.55. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt to equity ratio of 1.77. The 50-day moving average price for this business is $151.47 and the 200-day moving average price is $149.65. The company has a market capitalization of $116.39 billion, a price/earnings ratio of 15.65, a PEG ratio of 1.24 and a beta of 1.14.
American Express (NYSE:AXP – Get Rating) reported final results on Friday, Oct. 21. The payment services company posted earnings per share of $2.47 for the quarter, beating analyst consensus expectations of $2.42 by $0.05. The business generated $13.56 billion in revenue for the quarter, compared to analyst expectations of $13.58 billion. American Express had a net profit margin of 15.02% and a return on equity of 33.28%. The company’s revenue for the quarter increased 24.0% year-on-year. The company’s earnings per share in the year-ago quarter were $2.27. Research analysts expect American Express to post 9.97 earnings per share this year.
American Express Announces Dividend
The company recently announced a quarterly dividend payable on Friday, February 10th. Dividends of $0.52 per share will be paid to shareholders of record on Friday, January 6. The ex-dividend date for this dividend is January 5 (Thursday). This represents his $2.08 dividend and his 1.34% yield on an annualized basis. American Express currently has a payout ratio of 20.90%.
Insider trading on American Express
In other news, Director Walter Joseph Clayton III purchased 1,000 shares of the company’s stock in a transaction that took place on Tuesday, November 8th. Shares were acquired at an average of $149.27 per share, with a total transaction value of $149,270.00 for him. Following the transaction, the directors now own directly 1,000 shares of the Company’s stock valued at approximately $149,270. The transaction was disclosed in documents filed with the Securities and Exchange Commission, which are available at this link. In another piece of American Express news, his director, Walter Joseph Clayton III, purchased 1,000 shares of the company’s stock in a transaction on Tuesday, November 8th. Shares were purchased at an average of $149.27 per share, with a total trading value of $149,270.00 for him. Following the closing of the acquisition, the directors now own 1,000 shares of the company stock valued at $149,270. The acquisition is disclosed in documents filed with the SEC and available at this hyperlink. Vice Chairman Douglas E. Buckminster also sold 16,354 shares of American Express stock in a transaction on Tuesday, Dec. 6. The shares were sold at an average price of $154.23, giving him a total of $2,522,277.42. Following the closing of the transaction, insiders now directly own 99,024 shares of the company’s stock valued at $15,272,471.52. Please see here for the disclosure of this sale. A company insider owns his 0.11% of the company’s shares.
Wall Street Analyst Predicts Growth
Many research analysts publish reports on stocks. Piper Sandler reissued a “neutral” rating and set his price target on American Express stock at $159.00 in a research note on Tuesday, Dec. 13. JPMorgan Chase & Co. lowered its American Express price target from $170.00 to $166.00 in a report on Tuesday, January 10. Stephens downgraded American Express’s rating from “equivalent” to “underfunded,” and he set a price target for the company at $134.00. In an investigative report on Thursday, January 5th. Morgan Stanley lowered its price target on American Express from his $154.00 to his $148.00 and gave the stock an “equal-weighted” rating in its Thursday, December 1 report. Finally, Credit Suisse Group lowered its price target for American Express shares to his $135.00 in a report on Thursday, Oct. 13. Three investment analysts evaluated the stock with a sell rating, 11 assigned a hold rating, and seven issued a buy rating to the company. According to MarketBeat, the company has an average rating of “pending” and a consensus price target of $170.74.
American Express company profile
The American Express Company, along with its subsidiaries, provides charge cards, credit card products and travel-related services worldwide. The company operates in his three segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services. Its products and services include payment and financial products. network services; accounts payable products and services; travel and lifestyle services.
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