FDx Advisors Inc. Sells 194 Shares of American Express (NYSE:AXP)

FDx Advisors Inc. reduced its position in American Express (NYSE:AXP) by 14.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,108 shares of the payment services company’s stock after selling 194 shares during the quarter. FDx Advisors Inc.’s holdings in American Express were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AXP. Sovereign Financial Group Inc. lifted its position in American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC increased its stake in American Express by 2.5% during the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the period. Concord Wealth Partners increased its stake in American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after purchasing an additional 40 shares during the period. Sawgrass Asset Management LLC increased its stake in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the period. Finally, Godsey & Gibb Inc. increased its stake in American Express by 3.5% during the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after purchasing an additional 41 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

AXP stock opened at $293.05 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $206.44 billion, a P/E ratio of 21.56, a PEG ratio of 1.56 and a beta of 1.21. The business has a 50 day simple moving average of $268.64 and a 200-day simple moving average of $249.46. American Express has a twelve month low of $153.50 and a twelve month high of $296.83.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. As a group, equities analysts anticipate that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXP. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Bank of America boosted their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. Four equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insiders Place Their Bets

In other news, insider Anre D. Williams sold 77,887 shares of the company’s 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 owns 111,656 shares in the company, valued at $30,176,150.56. This represents 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, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

About American Express

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.