Parkside Financial Bank & Trust cut its stake in American Express (NYSE:AXP) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,433 shares of the payment services company’s stock after selling 841 shares during the period. Parkside Financial Bank & Trust’s holdings in American Express were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Garrett Wealth Advisory Group LLC purchased a new stake in shares of American Express in the third quarter valued at approximately $27,000. Winthrop Partners WNY LLC purchased a new position in American Express in the third quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new position in American Express in the third quarter worth approximately $35,000. HMS Capital Management LLC purchased a new position in American Express in the second quarter worth approximately $37,000. Finally, Enterprise Trust & Investment Co purchased a new position in American Express in the third quarter worth approximately $38,000. Institutional investors and hedge funds own 85.43% of the company’s stock.
Several brokerages recently weighed in on AXP. Morgan Stanley increased their price objective on American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. BMO Capital Markets increased their price objective on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. set a $122.00 price objective on American Express and gave the stock a “hold” rating in a research report on Tuesday, October 8th. William Blair reiterated a “buy” rating on shares of American Express in a research report on Friday, October 18th. Finally, Cfra reiterated a “hold” rating on shares of American Express in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $124.96.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that American Express will post 8.16 EPS for the current fiscal year.
The company also recently declared a 0.39000 dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.43 per share. This represents a yield of 1.3%. The ex-dividend date was Thursday, October 3rd. American Express’s dividend payout ratio (DPR) is 23.47%.
In other news, insider Denise Pickett sold 2,400 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $118.39, for a total value of $284,136.00. Following the sale, the insider now directly owns 9,788 shares in the company, valued at $1,158,801.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the sale, the chief executive officer now owns 199,609 shares in the company, valued at $23,619,732.97. The disclosure for this sale can be found here. Insiders have sold 25,820 shares of company stock worth $3,039,511 over the last 90 days. 0.21% of the stock is owned by insiders.
American Express Company 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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