Ballast Advisors LLC Sells 130 Shares of American Express (NYSE:AXP)

Ballast Advisors LLC lessened its holdings in American Express (NYSE:AXP) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,365 shares of the payment services company’s stock after selling 130 shares during the quarter. Ballast Advisors LLC’s holdings in American Express were worth $641,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Radnor Capital Management LLC boosted its stake in shares of American Express by 12.3% in the 3rd quarter. Radnor Capital Management LLC now owns 45,919 shares of the payment services company’s stock valued at $12,453,000 after purchasing an additional 5,045 shares during the last quarter. Catalina Capital Group LLC boosted its stake in shares of American Express by 9.7% in the 3rd quarter. Catalina Capital Group LLC now owns 3,322 shares of the payment services company’s stock valued at $901,000 after purchasing an additional 295 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new position in shares of American Express in the 3rd quarter valued at about $484,000. MinichMacGregor Wealth Management LLC bought a new position in American Express during the 3rd quarter worth approximately $278,000. Finally, Catalyst Capital Advisors LLC bought a new position in American Express during the 3rd quarter worth approximately $4,095,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was 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 owns 109,691 shares of the company’s stock, valued at $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, 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. 0.11% of the stock is owned by insiders.

American Express Stock Performance

AXP stock traded up $14.85 during midday trading on Wednesday, reaching $290.79. 574,901 shares of the company were exchanged, compared to its average volume of 2,895,747. The business has a 50-day moving average price of $266.76 and a two-hundred day moving average price of $248.34. The firm has a market capitalization of $204.85 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. American Express has a one year low of $152.05 and a one year high of $293.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

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

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.96%. American Express’s payout ratio is presently 20.60%.

Wall Street Analyst Weigh In

Several brokerages have commented on AXP. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and raised their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Barclays lifted their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus 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.