Nations Financial Group Inc. IA ADV Increases Stock Position in American Express (NYSE:AXP)

Nations Financial Group Inc. IA ADV boosted its stake in American Express (NYSE:AXP) by 39.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,231 shares of the payment services company’s stock after purchasing an additional 347 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in American Express were worth $334,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AXP. Kennebec Savings Bank bought a new position in American Express in the 3rd quarter worth about $29,000. DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in American Express during the second quarter valued at approximately $42,000. Founders Capital Management purchased a new position in shares of American Express in the second quarter worth $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of American Express in the third quarter worth $46,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

American Express Price Performance

Shares of AXP opened at $288.30 on Friday. The company has a market capitalization of $203.09 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.65 and a beta of 1.21. American Express has a fifty-two week low of $157.00 and a fifty-two week high of $296.83. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50-day moving average is $270.73 and its 200-day moving average is $250.49.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 earnings per share. Equities research analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.97%. American Express’s dividend payout ratio (DPR) is currently 20.60%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Barclays raised their price target on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Evercore ISI lifted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $253.09.

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.