Cerebellum GP LLC lifted its stake in shares of American Express (NYSE:AXP) by 21.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,539 shares of the payment services company’s stock after purchasing an additional 805 shares during the quarter. Cerebellum GP LLC’s holdings in American Express were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of AXP. Garrett Wealth Advisory Group LLC acquired a new stake in shares of American Express during the third quarter worth $27,000. Winthrop Partners WNY LLC acquired a new stake in shares of American Express during the third quarter worth $30,000. Corbenic Partners LLC acquired a new stake in shares of American Express during the fourth quarter worth $34,000. FNY Investment Advisers LLC acquired a new stake in shares of American Express during the third quarter worth $35,000. Finally, Enterprise Trust & Investment Co acquired a new stake in shares of American Express during the third quarter worth $38,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
In other American Express news, insider Denise Pickett sold 2,400 shares of American Express stock in a transaction on Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the transaction, the insider now owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the completion of the transaction, the chief executive officer now directly owns 184,090 shares of the company’s stock, valued at approximately $21,715,256.40. The disclosure for this sale can be found here. Insiders have sold 25,820 shares of company stock valued at $3,033,961 over the last 90 days. 0.21% of the stock is currently owned by insiders.
American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. The company had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. Research analysts expect that American Express will post 8.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, January 2nd. This is an increase from American Express’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 1.32%. American Express’s payout ratio is currently 23.47%.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. set a $122.00 price objective on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Nomura lifted their price objective on shares of American Express from to and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer set a $126.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Monday, October 21st. Two 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $127.29.
American Express Company 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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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