Bristol John W & Co. Inc. NY Buys Shares of 3,670 American Express (NYSE:AXP)

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Bristol John W & Co. Inc. NY bought a new stake in American Express (NYSE:AXP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,670 shares of the payment services company’s stock, valued at approximately $434,000.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of American Express by 6.9% in the first quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after buying an additional 1,690,676 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of American Express by 3.5% in the second quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after buying an additional 381,084 shares in the last quarter. Magellan Asset Management Ltd increased its position in shares of American Express by 212,845.6% in the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after buying an additional 9,575,925 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after buying an additional 6,587,148 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of American Express by 1.6% in the first quarter. Clearbridge Investments LLC now owns 5,711,576 shares of the payment services company’s stock valued at $624,275,000 after buying an additional 92,548 shares in the last quarter. 83.92% of the stock is owned by institutional investors.

American Express stock traded up $1.49 during midday trading on Tuesday, reaching $117.88. 1,349,772 shares of the company were exchanged, compared to its average volume of 3,377,146. The company has a market capitalization of $96.57 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.41 and a beta of 1.06. The firm’s 50-day simple moving average is $117.68 and its 200-day simple moving average is $119.51. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.02. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. On average, analysts forecast that American Express will post 8.13 EPS for the current fiscal year.

The business also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.43 per share. This represents a yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s dividend payout ratio is presently 23.47%.

In other American Express news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the sale, the insider now directly owns 35,931 shares of the company’s stock, valued at approximately $4,565,392.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the sale, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,500 shares of company stock valued at $4,618,653. 0.21% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on AXP shares. BMO Capital Markets raised their price target on American Express to $119.00 and gave the company a “market perform” rating in a research report on Monday, July 22nd. ValuEngine cut American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley set a $142.00 price target on American Express and gave the company a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Co raised their price target on American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank started coverage on American Express in a research report on Monday, July 8th. They issued a “buy” rating and a $142.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $124.15.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Read More: What does a hold rating mean?

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).

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

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