The Simmons Bank Cuts Position in American Express Company (AXP)

The Simmons Bank Cuts Position in American Express Company (AXP)

Simmons Bank cut its position in shares of American Express Company (NYSE:AXP) by 14.7% during the third quarter, Holdings Channel reports. The institutional investor owned 10,516 shares of the payment services company’s stock after selling 1,814 shares during the period. Simmons Bank’s holdings in American Express Company were worth $673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its position in American Express Company by 14.8% in the third quarter. Huntington National Bank now owns 203,612 shares of the payment services company’s stock worth $13,040,000 after buying an additional 26,207 shares during the period. Benedict Financial Advisors Inc. raised its position in American Express Company by 8.9% in the third quarter. Benedict Financial Advisors Inc. now owns 4,906 shares of the payment services company’s stock worth $313,000 after buying an additional 400 shares during the period. Advisors Asset Management Inc. raised its position in American Express Company by 27.9% in the third quarter. Advisors Asset Management Inc. now owns 80,249 shares of the payment services company’s stock worth $5,139,000 after buying an additional 17,525 shares during the period. Tocqueville Asset Management L.P. raised its position in American Express Company by 6.4% in the third quarter. Tocqueville Asset Management L.P. now owns 44,985 shares of the payment services company’s stock worth $2,881,000 after buying an additional 2,703 shares during the period. Finally, APG Asset Management N.V. raised its position in American Express Company by 7.3% in the third quarter. APG Asset Management N.V. now owns 2,684,333 shares of the payment services company’s stock worth $171,905,000 after buying an additional 182,700 shares during the period. 80.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Express Company (NYSE:AXP) traded up 1.16% on Wednesday, hitting $77.49. 5,988,353 shares of the stock were exchanged. The firm’s 50 day moving average price is $74.68 and its 200 day moving average price is $67.46. The firm has a market cap of $70.92 billion, a price-to-earnings ratio of 13.77 and a beta of 1.20. American Express Company has a one year low of $50.27 and a one year high of $78.00.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. American Express Company’s dividend payout ratio (DPR) is 22.70%.

A number of research analysts have weighed in on the stock. J P Morgan Chase & Co raised shares of American Express Company from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $76.00 to $90.00 in a research note on Tuesday. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of American Express Company in a report on Thursday, January 12th. Bank of America Corporation raised their price target on shares of American Express Company from $75.86 to $98.00 and gave the stock a “market perform” rating in a report on Tuesday, January 10th. Vetr upgraded shares of American Express Company from a “sell” rating to a “hold” rating and set a $76.30 price target for the company in a report on Monday, January 9th. Finally, Barclays PLC set a $83.00 price target on shares of American Express Company and gave the stock a “hold” rating in a report on Sunday, January 8th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.78.

In other news, insider L Kevin Cox sold 54,574 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $78.00, for a total value of $4,256,772.00. Following the transaction, the insider now directly owns 30,090 shares in the company, valued at approximately $2,347,020. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the completion of the transaction, the insider now owns 56,870 shares in the company, valued at $4,006,491.50. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

American Express Company Company Profile

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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