Baxter Bros Inc. Has $21.65 Million Stake in American Express (NYSE:AXP)

Baxter Bros Inc. trimmed its stake in American Express (NYSE:AXP) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,827 shares of the payment services company’s stock after selling 1,298 shares during the quarter. American Express accounts for 2.8% of Baxter Bros Inc.’s portfolio, making the stock its 10th biggest holding. Baxter Bros Inc.’s holdings in American Express were worth $21,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AXP. DHJJ Financial Advisors Ltd. increased its position in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. BNP Paribas bought a new stake in shares of American Express in the 1st quarter worth $40,000. POM Investment Strategies LLC purchased a new position in shares of American Express in the second quarter worth $42,000. Founders Capital Management bought a new position in shares of American Express during the second quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Express during the third quarter valued at $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

NYSE:AXP opened at $272.69 on Friday. The business’s 50-day simple moving average is $266.02 and its two-hundred day simple moving average is $247.45. American Express has a 52 week low of $148.33 and a 52 week high of $286.36. The stock has a market cap of $192.10 billion, a PE ratio of 20.07, a P/E/G ratio of 1.49 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the company earned $3.30 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that American Express will post 13.41 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s dividend payout ratio is 20.60%.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AXP shares. TD Cowen boosted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $253.09.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.