Honkamp Krueger Financial Services Inc. cut its stake in shares of American Express (NYSE:AXP) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,733 shares of the payment services company’s stock after selling 235 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in American Express were worth $216,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in AXP. Fisher Asset Management LLC lifted its position in shares of American Express by 19.8% in the 3rd quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock valued at $1,609,248,000 after acquiring an additional 2,252,720 shares in the last quarter. Nuveen Asset Management LLC grew its position in American Express by 1,759.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after purchasing an additional 6,587,148 shares in the last quarter. Parnassus Investments CA grew its position in American Express by 1.4% during the 3rd quarter. Parnassus Investments CA now owns 6,193,957 shares of the payment services company’s stock worth $732,621,000 after purchasing an additional 85,419 shares in the last quarter. Invesco Ltd. raised its stake in American Express by 5.9% during the 2nd quarter. Invesco Ltd. now owns 5,706,357 shares of the payment services company’s stock valued at $704,392,000 after purchasing an additional 319,389 shares during the period. Finally, Morgan Stanley raised its stake in American Express by 16.2% during the 2nd quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after purchasing an additional 731,450 shares during the period. 84.12% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. ValuEngine lowered American Express from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. set a $122.00 price target on American Express and gave the company a “hold” rating in a report on Tuesday, October 8th. Cfra reissued a “hold” rating on shares of American Express in a research report on Friday, October 18th. Morgan Stanley increased their price objective on American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Oppenheimer set a $126.00 price objective on American Express and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $127.29.
American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. American Express’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. On average, equities research analysts expect that American Express will post 8.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a $0.43 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 1.32%. The ex-dividend date is Thursday, January 2nd. American Express’s dividend payout ratio is presently 23.47%.
In other American Express news, Director Theodore Leonsis sold 8,420 shares of American Express stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total value of $980,424.80. Following the completion of the sale, the director now directly owns 11,580 shares in the company, valued at $1,348,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction that occurred 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 sale, the chief executive officer now owns 184,090 shares of the company’s stock, valued at $21,715,256.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,820 shares of company stock worth $3,033,961. Insiders own 0.21% of the company’s stock.
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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