American Express Company $AXP Shares Sold by Shayne & Jacobs LLC

Shayne & Jacobs LLC decreased its position in American Express Company (NYSE:AXP) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,390 shares of the payment services company’s stock after selling 21,792 shares during the quarter. American Express accounts for about 4.4% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 4th largest holding. Shayne & Jacobs LLC’s holdings in American Express were worth $13,203,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Wellington Management Group LLP grew its position in American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares in the last quarter. Nuveen LLC acquired a new stake in American Express in the first quarter valued at approximately $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock valued at $1,370,489,000 after acquiring an additional 78,538 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after buying an additional 965,221 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AXP shares. Barclays increased their target price on American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a research note on Monday. UBS Group increased their target price on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their target price on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, BTIG Research set a $277.00 target price on American Express and gave the company a “sell” rating in a research note on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $323.60.

American Express Stock Performance

Shares of AXP opened at $316.27 on Friday. The business’s fifty day moving average price is $322.16 and its 200 day moving average price is $300.00. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The stock has a market capitalization of $220.09 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same period last year, the business posted $3.49 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s dividend payout ratio (DPR) is currently 23.02%.

Insider Transactions at American Express

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 over the last three months. 0.20% of the stock is currently owned by company 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.