Voya Investment Management LLC Reduces Stock Position in American Express Company $AXP

Voya Investment Management LLC lessened its holdings in shares of American Express Company (NYSE:AXP) by 20.6% during the third quarter, Holdings Channel reports. The firm owned 133,072 shares of the payment services company’s stock after selling 34,423 shares during the quarter. Voya Investment Management LLC’s holdings in American Express were worth $44,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Nordea Investment Management AB raised its position in shares of American Express by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after purchasing an additional 49,593 shares during the last quarter. Dempze Nancy E lifted its stake in shares of American Express by 210.2% in the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after buying an additional 2,344 shares in the last quarter. Reliant Investment Management LLC lifted its stake in shares of American Express by 1.9% in the second quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after buying an additional 480 shares in the last quarter. SLT Holdings LLC grew its holdings in shares of American Express by 31.3% during the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock valued at $322,000 after buying an additional 240 shares during the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of American Express by 0.9% during the second quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock valued at $26,438,000 after acquiring an additional 764 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider directly owned 2,515 shares in the company, valued at $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This represents a 39.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,515 shares of company stock valued at $20,658,509 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AXP has been the topic of several recent analyst reports. Morgan Stanley set a $370.00 target price on American Express in a research note on Tuesday. Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. UBS Group boosted their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price target on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Compass Point restated a “neutral” rating and set a $324.00 price objective on shares of American Express in a research report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $334.30.

American Express Trading Up 0.2%

Shares of NYSE:AXP opened at $376.40 on Friday. The stock has a 50 day moving average of $360.14 and a 200 day moving average of $331.25. The company has a market cap of $259.28 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. The firm had revenue of ($17,139.00) million for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio is presently 22.01%.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.