Tesco Pension Investment Ltd grew its stake in shares of American Express (NYSE:AXP) by 12.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,117,543 shares of the payment services company’s stock after purchasing an additional 127,059 shares during the quarter. American Express comprises about 3.1% of Tesco Pension Investment Ltd’s portfolio, making the stock its 13th biggest holding. Tesco Pension Investment Ltd owned about 0.13% of American Express worth $122,147,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of AXP. Pearl River Capital LLC purchased a new stake in shares of American Express during the fourth quarter valued at $25,000. JNBA Financial Advisors purchased a new stake in American Express during the 4th quarter valued at about $26,000. Camarda Financial Advisors LLC purchased a new stake in American Express during the 1st quarter valued at about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of American Express in the 1st quarter valued at approximately $28,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $31,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.
In other American Express news, insider Laureen Seeger sold 44,584 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total value of $5,316,642.00. Following the completion of the sale, the insider now owns 80,375 shares in the company, valued at approximately $9,584,718.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Stephen J. Squeri sold 101,964 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the transaction, the chairman now directly owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,297 shares of company stock valued at $21,062,015. Company insiders own 0.21% of the company’s stock.
American Express (NYSE:AXP) last released its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.01. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. American Express’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. Equities research analysts anticipate that American Express will post 8.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.27%. American Express’s dividend payout ratio is presently 21.28%.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Stephens set a $131.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Monday, May 20th. Oppenheimer set a $119.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 price target (up from $115.00) on shares of American Express in a report on Tuesday, March 12th. Finally, Morgan Stanley upped their price target on shares of American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $116.63.
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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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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