American Express (NYSE:AXP) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC trimmed its position in American Express (NYSE:AXP) by 21.6% during the third quarter, Holdings Channel.com reports. The firm owned 11,253 shares of the payment services company’s stock after selling 3,104 shares during the period. Gladstone Institutional Advisory LLC’s holdings in American Express were worth $3,052,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXP. Lebenthal Global Advisors LLC increased its position in American Express by 11.4% during the third quarter. Lebenthal Global Advisors LLC now owns 5,330 shares of the payment services company’s stock worth $1,445,000 after buying an additional 545 shares during the period. Nadler Financial Group Inc. increased its holdings in shares of American Express by 10.3% in the 3rd quarter. Nadler Financial Group Inc. now owns 1,177 shares of the payment services company’s stock valued at $319,000 after acquiring an additional 110 shares during the period. Focus Financial Network Inc. raised its position in American Express by 2.8% in the 3rd quarter. Focus Financial Network Inc. now owns 5,829 shares of the payment services company’s stock valued at $1,581,000 after purchasing an additional 159 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of American Express by 9.5% during the third quarter. Principal Securities Inc. now owns 13,771 shares of the payment services company’s stock worth $3,735,000 after buying an additional 1,193 shares during the period. Finally, IRON Financial LLC purchased a new position in shares of American Express during the third quarter worth about $214,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 1.0 %

AXP stock opened at $272.69 on Friday. 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 firm has a 50 day simple moving average of $266.02 and a 200-day simple moving average of $247.24. The company has a market capitalization of $192.10 billion, a P/E ratio of 20.07, a PEG ratio of 1.49 and a beta of 1.21. American Express has a twelve month low of $148.33 and a twelve month high of $286.36.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

AXP has been the subject of several recent research reports. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Barclays increased their price target on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lifted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. TD Cowen increased their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade 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, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.