American Express (AXP) Holdings Decreased by Suntrust Banks Inc.
Suntrust Banks Inc. decreased its stake in shares of American Express (NYSE:AXP) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 140,576 shares of the payment services company’s stock after selling 1,439 shares during the period. Suntrust Banks Inc.’s holdings in American Express were worth $13,959,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of American Express by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after purchasing an additional 731,428 shares during the last quarter. BlackRock Inc. increased its holdings in shares of American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of American Express by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock worth $1,179,061,000 after acquiring an additional 325,140 shares during the last quarter. Veritas Asset Management LLP increased its holdings in shares of American Express by 7.1% during the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after acquiring an additional 735,952 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of American Express by 59.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock worth $526,879,000 after acquiring an additional 1,968,718 shares during the last quarter. 82.38% of the stock is currently owned by hedge funds and other institutional investors.
AXP has been the topic of a number of recent analyst reports. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 target price (up from $105.00) on shares of American Express in a report on Tuesday, January 9th. ValuEngine lowered American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays boosted their target price on American Express from $112.00 to $119.00 in a report on Friday, January 19th. Bank of America set a $128.00 target price on American Express and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus price target of $102.68.
American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.04. The firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. equities research analysts predict that American Express will post 7.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.44%. American Express’s payout ratio is 23.65%.
In other news, insider James Peter Bush sold 13,356 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the sale, the insider now directly owns 100,790 shares in the company, valued at approximately $9,942,933.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the sale, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,110 shares of company stock valued at $31,858,001. Corporate insiders own 0.67% of the company’s stock.
About American Express
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).
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