American Express (NYSE:AXP) Shares Sold by VeraBank N.A.

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VeraBank N.A. lessened its position in American Express (NYSE:AXP) by 6.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,393 shares of the payment services company’s stock after selling 300 shares during the period. VeraBank N.A.’s holdings in American Express were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. lifted its stake in shares of American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock valued at $458,000 after purchasing an additional 84 shares during the period. Welch Group LLC lifted its stake in shares of American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock valued at $476,000 after purchasing an additional 84 shares during the period. Signaturefd LLC lifted its stake in shares of American Express by 2.0% in the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock valued at $554,000 after purchasing an additional 88 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of American Express by 0.7% in the second quarter. Hodges Capital Management Inc. now owns 12,708 shares of the payment services company’s stock valued at $1,569,000 after purchasing an additional 90 shares during the period. Finally, Nachman Norwood & Parrott Inc lifted its stake in shares of American Express by 4.1% in the second quarter. Nachman Norwood & Parrott Inc now owns 2,561 shares of the payment services company’s stock valued at $316,000 after purchasing an additional 100 shares during the period. Institutional investors own 83.86% of the company’s stock.

Several brokerages recently commented on AXP. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Friday, July 19th. ValuEngine cut shares of American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets raised their price objective on shares of American Express to $119.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Wells Fargo & Co raised their price objective on shares of American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $124.78.

In other American Express news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the completion of the transaction, the insider now directly owns 35,931 shares in the company, valued at approximately $4,565,392.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the sale, the chief executive officer now owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock valued at $4,618,653 over the last 90 days. 0.21% of the stock is currently owned by insiders.

NYSE:AXP traded up $2.09 during mid-day trading on Friday, hitting $117.11. 1,523,856 shares of the company’s stock traded hands, compared to its average volume of 3,561,523. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50 day simple moving average is $117.97 and its 200 day simple moving average is $119.36. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The company has a market cap of $93.37 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The firm had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same period last year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that American Express will post 8.13 earnings per share for the current fiscal year.

The firm also recently announced a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio (DPR) is currently 23.47%.

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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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