Invst LLC Reduces Stock Position in American Express (NYSE:AXP)

Invst LLC trimmed its holdings in American Express (NYSE:AXP) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 8,969 shares of the payment services company’s stock after selling 52 shares during the quarter. Invst LLC’s holdings in American Express were worth $2,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Geode Capital Management LLC lifted its holdings in American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after purchasing an additional 86,100 shares in the last quarter. FMR LLC increased its position in shares of American Express by 8.5% during the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after buying an additional 866,110 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after buying an additional 239,173 shares in the last quarter. Janus Henderson Group PLC grew its stake in American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after acquiring an additional 33,193 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in American Express by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock valued at $456,418,000 after purchasing an additional 7,676 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of several recent analyst reports. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company lifted their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Compass Point increased their price objective on American Express from $260.00 to $315.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, 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. Four 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $259.45.

American Express Stock Performance

American Express stock opened at $302.16 on Wednesday. American Express has a twelve month low of $167.77 and a twelve month high of $307.82. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $212.86 billion, a P/E ratio of 22.23, a PEG ratio of 1.70 and a beta of 1.23. The stock’s 50 day moving average is $284.00 and its 200 day moving average is $258.17.

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, topping the consensus estimate of $3.27 by $0.22. The business 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%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.30 earnings per share. On average, equities research analysts predict that American Express will post 13.39 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio is currently 20.60%.

Insider Activity

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the 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 in the company, valued at $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,998 shares of company stock valued at $26,423,439 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

American Express 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.