Edgestream Partners L.P. Takes Position in American Express (AXP)
Edgestream Partners L.P. purchased a new stake in American Express (NYSE:AXP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,942 shares of the payment services company’s stock, valued at approximately $526,000.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of American Express by 1.4% in the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after purchasing an additional 626,323 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of American Express by 2.4% in the third quarter. Fisher Asset Management LLC now owns 10,357,743 shares of the payment services company’s stock worth $1,102,996,000 after purchasing an additional 246,871 shares during the last quarter. FMR LLC grew its holdings in shares of American Express by 969.9% in the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock valued at $939,396,000 after acquiring an additional 8,689,714 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of American Express by 5.4% in the second quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock valued at $541,201,000 after acquiring an additional 282,496 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of American Express by 2.2% in the second quarter. Boston Partners now owns 4,911,540 shares of the payment services company’s stock valued at $481,331,000 after acquiring an additional 103,576 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.
Shares of AXP stock traded down $1.57 on Friday, reaching $106.68. The company’s stock had a trading volume of 4,419,402 shares, compared to its average volume of 3,455,629. American Express has a 12-month low of $87.54 and a 12-month high of $114.55. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $92.47 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.46%. American Express’s dividend payout ratio (DPR) is currently 26.58%.
AXP has been the subject of several recent analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $114.00 target price on shares of American Express in a report on Thursday, October 18th. Barclays increased their price objective on American Express from $113.00 to $115.00 and gave the company a “hold” rating in a report on Friday, October 19th. Morgan Stanley increased their price objective on American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, October 19th. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Finally, Wells Fargo & Co increased their price objective on American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $112.70.
In related news, insider Marc D. Gordon sold 25,948 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the sale, the insider now directly owns 33,111 shares of the company’s stock, valued at $3,570,359.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the completion of the sale, the chairman now directly owns 209,957 shares in the company, valued at $21,801,934.88. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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