The Wellington Shields Capital Management LLC Sells 450 Shares of American Express Co. (AXP)

The Wellington Shields Capital Management LLC Sells 450 Shares of American Express Co. (AXP)

Wellington Shields Capital Management LLC reduced its stake in shares of American Express Co. (NYSE:AXP) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,611 shares of the payment services company’s stock after selling 450 shares during the period. Wellington Shields Capital Management LLC’s holdings in American Express were worth $1,192,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Tesco Pension Investment Ltd bought a new stake in shares of American Express during the third quarter valued at about $141,780,000. Dodge & Cox boosted its position in American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock worth $1,716,387,000 after buying an additional 1,888,379 shares during the last quarter. International Value Advisers LLC purchased a new position in American Express during the second quarter worth $83,148,000. Bank of Montreal Can purchased a new position in American Express during the second quarter worth $61,068,000. Finally, APG Asset Management N.V. boosted its position in American Express by 58.0% in the second quarter. APG Asset Management N.V. now owns 2,501,633 shares of the payment services company’s stock worth $151,999,000 after buying an additional 918,209 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.

Shares of American Express Co. (NYSE:AXP) traded down 1.03% during midday trading on Thursday, hitting $76.69. 8,106,513 shares of the company’s stock were exchanged. The company has a 50-day moving average of $74.77 and a 200-day moving average of $67.53. The firm has a market cap of $70.19 billion, a price-to-earnings ratio of 13.63 and a beta of 1.20. American Express Co. has a 52 week low of $50.27 and a 52 week high of $78.00.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 19th. The payment services company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.92 billion. American Express had a return on equity of 27.84% and a net margin of 16.67%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Equities research analysts expect that American Express Co. will post $5.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, January 4th. American Express’s payout ratio is presently 22.70%.

AXP has been the subject of a number of analyst reports. Vetr cut shares of American Express from a “hold” rating to a “sell” rating and set a $71.74 price objective for the company. in a research report on Wednesday, December 21st. Nomura cut shares of American Express from a “neutral” rating to a “reduce” rating and decreased their price objective for the company from $62.00 to $56.00 in a research report on Thursday, October 6th. Bank of America Corp. raised shares of American Express from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $65.00 to $68.00 in a research report on Thursday, October 20th. Evercore ISI reissued a “hold” rating on shares of American Express in a research report on Saturday, October 15th. Finally, Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, October 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $72.78.

In other American Express news, insider Susan Sobbott sold 19,186 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $70.45, for a total value of $1,351,653.70. Following the completion of the sale, the insider now owns 56,870 shares of the company’s stock, valued at $4,006,491.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashwini Gupta sold 140,808 shares of the company’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $67.18, for a total transaction of $9,459,481.44. Following the completion of the sale, the insider now directly owns 239,718 shares of the company’s stock, valued at approximately $16,104,255.24. The disclosure for this sale can be found here. Insiders sold 413,500 shares of company stock valued at $29,447,770 in the last ninety days. Insiders own 0.78% of the company’s stock.

American Express 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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