Alyeska Investment Group L.P. Sells 1,082,290 Shares of American Express Company (AXP)

Alyeska Investment Group L.P. cut its holdings in shares of American Express Company (NYSE:AXP) by 96.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,031 shares of the payment services company’s stock after selling 1,082,290 shares during the period. Alyeska Investment Group L.P.’s holdings in American Express were worth $3,621,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the last quarter. Capital Analysts LLC purchased a new stake in shares of American Express during the second quarter valued at $115,000. MV Capital Management Inc. grew its holdings in shares of American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after buying an additional 49 shares during the last quarter. Westside Investment Management Inc. grew its holdings in shares of American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares during the last quarter. Finally, City Holding Co. grew its holdings in shares of American Express by 2.7% during the second quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock valued at $132,000 after buying an additional 41 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the transaction, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Peter Bush sold 12,789 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the transaction, the insider now owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,869 shares of company stock worth $42,823,869. Corporate insiders own 0.67% of the company’s stock.

American Express Company (NYSE:AXP) traded up $0.24 during trading hours on Monday, reaching $100.97. 3,231,500 shares of the company’s stock traded hands, compared to its average volume of 2,725,133. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a one year low of $75.39 and a one year high of $101.65. The stock has a market capitalization of $87,640.00, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22.

American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. research analysts predict that American Express Company will post 5.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is currently 27.03%.

AXP has been the topic of a number of research analyst reports. Bank of America set a $128.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Monday, December 18th. Credit Suisse Group reissued a “sell” rating and set a $79.00 price objective on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a report on Tuesday, October 24th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $116.00 price objective on shares of American Express in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $98.96.

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American Express 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).

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

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