American Express Company $AXP is Provident Trust Co.’s 10th Largest Position

Provident Trust Co. boosted its position in American Express Company (NYSE:AXP) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,126,307 shares of the payment services company’s stock after purchasing an additional 17,336 shares during the quarter. American Express comprises approximately 6.2% of Provident Trust Co.’s investment portfolio, making the stock its 10th largest position. Provident Trust Co. owned about 0.16% of American Express worth $374,114,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of American Express by 1.3% in the second quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock valued at $14,808,730,000 after purchasing an additional 581,369 shares in the last quarter. Geode Capital Management LLC raised its position in American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after purchasing an additional 1,349,746 shares in the last quarter. Norges Bank acquired a new position in shares of American Express during the second quarter worth $1,897,335,000. Artisan Partners Limited Partnership increased its stake in American Express by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock valued at $1,473,966,000 after purchasing an additional 133,439 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of American Express by 13.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,342,556 shares of the payment services company’s stock worth $1,385,188,000 after purchasing an additional 530,967 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares in the company, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $361.76 on Friday. The business has a 50-day moving average of $368.05 and a two-hundred day moving average of $342.47. The firm has a market capitalization of $249.20 billion, a PE ratio of 24.28, a P/E/G ratio of 1.51 and a beta of 1.15. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a 12 month low of $220.43 and a 12 month high of $387.49.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million for the quarter, compared to analyst estimates of $18.91 billion. As a group, research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AXP shares. Keefe, Bruyette & Woods increased their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Wall Street Zen cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of American Express in a research note on Monday, January 12th. TD Cowen restated a “hold” rating on shares of American Express in a research report on Thursday, January 8th. Finally, Evercore ISI set a $400.00 price objective on American Express in a research note on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $353.95.

American Express Profile

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.