Lakeshore Capital Group Inc. Sells 437 Shares of American Express Company $AXP

Lakeshore Capital Group Inc. decreased its position in American Express Company (NYSE:AXP) by 7.3% during the second quarter, HoldingsChannel reports. The firm owned 5,578 shares of the payment services company’s stock after selling 437 shares during the quarter. American Express comprises approximately 1.6% of Lakeshore Capital Group Inc.’s holdings, making the stock its 18th biggest position. Lakeshore Capital Group Inc.’s holdings in American Express were worth $1,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in American Express during the first quarter worth $29,000. Hughes Financial Services LLC bought a new position in American Express during the first quarter worth $35,000. 1 North Wealth Services LLC bought a new position in American Express during the first quarter worth $37,000. Chung Wu Investment Group LLC bought a new position in American Express during the second quarter worth $37,000. Finally, IAG Wealth Partners LLC bought a new position in American Express during the first quarter worth $40,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AXP shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a research report on Saturday, September 27th. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. BTIG Research set a $277.00 price target on shares of American Express and gave the stock a “sell” rating in a research note on Monday, July 14th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their price target on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $323.55.

American Express Stock Down 1.3%

Shares of NYSE:AXP opened at $327.61 on Wednesday. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company’s fifty day moving average is $320.81 and its 200-day moving average is $299.26. The company has a market capitalization of $227.98 billion, a PE ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the company earned $3.49 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. This represents a 54.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anna Marrs sold 5,500 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last three months. Company insiders own 0.20% of the company’s stock.

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.