Neville Rodie & Shaw Inc. Decreases Holdings in American Express (AXP)
Neville Rodie & Shaw Inc. cut its stake in shares of American Express (NYSE:AXP) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,580 shares of the payment services company’s stock after selling 750 shares during the period. Neville Rodie & Shaw Inc.’s holdings in American Express were worth $7,603,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Certified Advisory Corp purchased a new stake in American Express during the 4th quarter valued at $101,000. Archford Capital Strategies LLC purchased a new stake in American Express during the 1st quarter valued at $123,000. Private Ocean LLC raised its stake in American Express by 14,070.0% during the 1st quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock valued at $132,000 after buying an additional 1,407 shares during the last quarter. Delpha Capital Management LLC purchased a new stake in American Express during the 4th quarter valued at $138,000. Finally, Focused Wealth Management Inc purchased a new stake in American Express during the 4th quarter valued at $139,000. Institutional investors and hedge funds own 82.84% of the company’s stock.
In other American Express news, Vice Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total transaction of $1,225,625.00. Following the completion of the transaction, the insider now owns 203,920 shares of the company’s stock, valued at approximately $19,994,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider L Kevin Cox sold 33,777 shares of the stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the transaction, the insider now directly owns 19,249 shares of the company’s stock, valued at approximately $1,935,294.46. The disclosure for this sale can be found here. Insiders have sold a total of 80,936 shares of company stock valued at $8,082,400 in the last three months. Insiders own 0.20% of the company’s stock.
American Express stock traded down $0.82 during mid-day trading on Tuesday, hitting $98.18. The stock had a trading volume of 123,223 shares, compared to its average volume of 4,119,252. The company has a market capitalization of $84.32 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.32 and a beta of 1.10. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.90 and a current ratio of 1.90. American Express has a one year low of $83.33 and a one year high of $103.24.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.15. The company had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. American Express’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. analysts forecast that American Express will post 7.22 EPS for the current year.
American Express declared that its board has approved a stock repurchase plan on Thursday, June 28th that authorizes the company to buyback $3.40 billion in shares. This buyback authorization authorizes the payment services company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, July 5th. American Express’s dividend payout ratio is currently 23.85%.
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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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