Golden State Equity Partners Has $296,000 Stock Position in American Express (NYSE:AXP)

Golden State Equity Partners lessened its holdings in shares of American Express (NYSE:AXP) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,093 shares of the payment services company’s stock after selling 389 shares during the quarter. Golden State Equity Partners’ holdings in American Express were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. raised its position in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. BNP Paribas acquired a new stake in American Express during the 1st quarter worth approximately $40,000. POM Investment Strategies LLC bought a new position in American Express in the second quarter valued at approximately $42,000. Founders Capital Management acquired a new position in shares of American Express in the second quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Express during the third quarter worth $46,000. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Down 1.4 %

Shares of NYSE:AXP opened at $270.13 on Friday. The stock has a market cap of $190.29 billion, a PE ratio of 19.88, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $143.07 and a 12-month high of $286.36. The business has a 50 day moving average of $265.59 and a 200-day moving average of $246.87.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. American Express’s dividend payout ratio is presently 20.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their price target on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

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.