Mercer Global Advisors Inc. ADV grew its stake in shares of American Express (NYSE:AXP – Get Rating) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,064 shares of the payment services company’s stock after buying an additional 11,535 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in American Express were worth $8,845,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tower View Investment Management & Research LLC bought a new position in shares of American Express in the third quarter worth approximately $34,000. Consolidated Planning Corp bought a new stake in American Express during the third quarter valued at about $34,000. Bell Investment Advisors Inc purchased a new position in shares of American Express in the third quarter valued at about $34,000. FSB Premier Wealth Management Inc. bought a new stake in American Express during the 4th quarter valued at approximately $38,000. Finally, D Orazio & Associates Inc. purchased a new position in American Express in the 3rd quarter worth approximately $43,000. 83.98% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on AXP shares. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of American Express in a research report on Wednesday, March 23rd. Wells Fargo & Company lifted their price target on shares of American Express from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, January 26th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price target for the company. in a research note on Monday, April 11th. Daiwa Capital Markets raised shares of American Express from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $215.00 in a report on Thursday, February 10th. Finally, Credit Suisse Group raised their target price on shares of American Express from $163.00 to $170.00 and gave the company an “underperform” rating in a report on Wednesday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $197.82.
American Express (NYSE:AXP – Get Rating) last released its earnings results on Tuesday, January 25th. The payment services company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.40. American Express had a return on equity of 33.20% and a net margin of 18.92%. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities analysts forecast that American Express will post 9.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.11%. This is an increase from American Express’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 7th. American Express’s dividend payout ratio (DPR) is 20.82%.
In related news, EVP Quinn Jessica Lieberman sold 1,804 shares of American Express stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $191.42, for a total value of $345,321.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laureen Seeger sold 30,808 shares of American Express stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $175.57, for a total value of $5,408,960.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 440,177 shares of company stock valued at $81,094,533. Corporate insiders own 0.11% of the company’s stock.
American Express Profile (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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