American Express (NYSE:AXP) Shares Sold by Stone Point Wealth LLC

Stone Point Wealth LLC cut its stake in American Express (NYSE:AXP) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,955 shares of the payment services company’s stock after selling 487 shares during the period. American Express accounts for approximately 1.5% of Stone Point Wealth LLC’s investment portfolio, making the stock its 17th largest holding. Stone Point Wealth LLC’s holdings in American Express were worth $4,598,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AXP. International Assets Investment Management LLC increased its holdings in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after purchasing an additional 906,353 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after buying an additional 768,301 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in American Express by 59,816.0% during the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after buying an additional 681,304 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of American Express in the 1st quarter valued at $114,990,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

American Express Trading Up 0.3 %

NYSE AXP opened at $287.63 on Friday. The business’s 50-day moving average price is $267.52 and its two-hundred day moving average price is $248.67. American Express has a 12 month low of $152.05 and a 12 month high of $296.83. The firm has a market capitalization of $202.62 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 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 analyst estimates of $16.68 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts expect that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.97%. American Express’s payout ratio is currently 20.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXP shares. Evercore ISI increased their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $268.00 to $286.00 in a research note on Monday, October 7th. The Goldman Sachs Group raised their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on American Express from $285.00 to $300.00 and gave the stock 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.