Front Barnett Associates LLC Decreases Position in American Express Company (AXP)

Front Barnett Associates LLC decreased its stake in American Express Company (NYSE:AXP) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,966 shares of the payment services company’s stock after selling 8,036 shares during the period. American Express Company comprises approximately 1.8% of Front Barnett Associates LLC’s portfolio, making the stock its 22nd largest position. Front Barnett Associates LLC’s holdings in American Express Company were worth $9,649,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Heartland Consultants Inc. boosted its position in American Express Company by 23.3% in the third quarter. First Heartland Consultants Inc. now owns 4,207 shares of the payment services company’s stock worth $269,000 after buying an additional 794 shares during the last quarter. Cutler Investment Counsel LLC boosted its position in American Express Company by 0.9% in the third quarter. Cutler Investment Counsel LLC now owns 79,997 shares of the payment services company’s stock worth $5,123,000 after buying an additional 711 shares during the last quarter. Northstar Group Inc. boosted its position in American Express Company by 5.2% in the fourth quarter. Northstar Group Inc. now owns 20,894 shares of the payment services company’s stock worth $1,547,000 after buying an additional 1,034 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its position in American Express Company by 29.9% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 6,678 shares of the payment services company’s stock worth $495,000 after buying an additional 1,539 shares during the last quarter. Finally, Hall Laurie J Trustee purchased a new position in American Express Company during the fourth quarter worth approximately $259,000. Institutional investors own 83.78% of the company’s stock.

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

American Express Company (AXP) opened at 80.59 on Wednesday. American Express Company has a 52-week low of $57.15 and a 52-week high of $82.00. The company has a market cap of $72.03 billion, a price-to-earnings ratio of 14.55 and a beta of 1.19. The stock’s 50 day moving average is $78.49 and its 200 day moving average is $77.44.

American Express Company (NYSE:AXP) last issued its quarterly earnings data on Wednesday, April 19th. The payment services company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.06. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.76 billion. American Express Company had a return on equity of 25.24% and a net margin of 16.24%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. On average, analysts predict that American Express Company will post $5.70 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.59%. American Express Company’s payout ratio is presently 23.19%.

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A number of research firms have recently commented on AXP. BMO Capital Markets reissued a “hold” rating and set a $84.00 target price on shares of American Express Company in a research report on Thursday, June 1st. Wells Fargo & Company reissued a “market perform” rating and set a $80.00 target price on shares of American Express Company in a research report on Sunday, May 21st. Jefferies Group LLC reissued a “hold” rating and set a $85.00 target price on shares of American Express Company in a research report on Friday, April 28th. Nomura raised shares of American Express Company from a “reduce” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $78.00 in a research report on Thursday, April 27th. Finally, Instinet raised shares of American Express Company from a “reduce” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $78.00 in a research report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $82.71.

In other American Express Company news, insider Douglas E. Buckminster sold 3,000 shares of American Express Company stock in a transaction on Friday, April 28th. The stock was sold at an average price of $79.24, for a total transaction of $237,720.00. Following the completion of the transaction, the insider now directly owns 55,486 shares of the company’s stock, valued at $4,396,710.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of American Express Company stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,850 shares of company stock valued at $4,407,543. Company insiders own 0.67% of the company’s stock.

American Express Company Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AXP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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