Barr E S & Co. Cuts Stock Position in American Express (NYSE:AXP)

Barr E S & Co. cut its position in American Express (NYSE:AXP) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,459 shares of the payment services company’s stock after selling 3,948 shares during the quarter. American Express comprises about 2.3% of Barr E S & Co.’s holdings, making the stock its 18th largest position. Barr E S & Co.’s holdings in American Express were worth $31,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Financial Management Professionals Inc. raised its stake in shares of American Express by 6.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,015 shares of the payment services company’s stock valued at $170,000 after purchasing an additional 58 shares during the period. Beaumont Asset Management L.L.C. increased its stake in American Express by 1.5% in the 3rd quarter. Beaumont Asset Management L.L.C. now owns 4,057 shares of the payment services company’s stock worth $679,000 after acquiring an additional 60 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in American Express by 30.8% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 255 shares of the payment services company’s stock worth $43,000 after acquiring an additional 60 shares during the last quarter. Eads & Heald Wealth Management boosted its holdings in shares of American Express by 0.3% in the 3rd quarter. Eads & Heald Wealth Management now owns 17,221 shares of the payment services company’s stock worth $2,885,000 after purchasing an additional 60 shares in the last quarter. Finally, NBT Bank N A NY boosted its holdings in shares of American Express by 1.0% in the 3rd quarter. NBT Bank N A NY now owns 5,917 shares of the payment services company’s stock worth $991,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 84.60% of the company’s stock.

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on American Express from $185.00 to $195.00 and gave the company a “sector perform” rating in a report on Monday, October 25th. Barclays increased their price objective on American Express from $171.00 to $182.00 and gave the stock an “equal weight” rating in a report on Monday. Oppenheimer increased their target price on American Express from $193.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 13th. Bank of America raised their price objective on American Express from $178.00 to $189.00 and gave the company a “neutral” rating in a research report on Monday, October 25th. Finally, Credit Suisse Group raised their price objective on American Express from $150.00 to $155.00 and gave the company an “underperform” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $179.56.

Shares of AXP stock traded down $6.75 during mid-day trading on Friday, hitting $166.54. 197,402 shares of the stock were exchanged, compared to its average volume of 3,280,604. The firm has a fifty day moving average of $168.36 and a 200 day moving average of $168.96. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.41. American Express has a 52-week low of $112.10 and a 52-week high of $189.03. The company has a market cap of $129.00 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

American Express (NYSE:AXP) last posted its earnings results on Thursday, October 21st. The payment services company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.47. The business had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.55 billion. American Express had a net margin of 19.54% and a return on equity of 28.48%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. Equities analysts predict that American Express will post 9.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 10th. Investors of record on Friday, January 7th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, January 6th. American Express’s dividend payout ratio is presently 17.97%.

In related news, insider Anna Marrs sold 26,094 shares of the firm’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $171.22, for a total value of $4,467,814.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

Further Reading: Are sell-side analysts objective?

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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