Signaturefd LLC cut its holdings in American Express (NYSE:AXP) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,684 shares of the payment services company’s stock after selling 533 shares during the quarter. Signaturefd LLC’s holdings in American Express were worth $470,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Provident Wealth Management LLC acquired a new stake in American Express in the third quarter valued at about $42,000. Bay Harbor Wealth Management LLC boosted its stake in American Express by 28.6% in the second quarter. Bay Harbor Wealth Management LLC now owns 481 shares of the payment services company’s stock valued at $46,000 after buying an additional 107 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in American Express in the third quarter valued at about $50,000. Rocky Mountain Advisers LLC boosted its stake in American Express by 150.0% in the third quarter. Rocky Mountain Advisers LLC now owns 500 shares of the payment services company’s stock valued at $50,000 after buying an additional 300 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in American Express by 73.8% in the third quarter. Larson Financial Group LLC now owns 511 shares of the payment services company’s stock valued at $51,000 after buying an additional 217 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on American Express from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, September 29th. Wells Fargo & Company reissued a “sell” rating and set a $90.00 price target on shares of American Express in a research note on Wednesday, September 30th. 140166 lowered American Express from a “positive” rating to a “neutral” rating and set a $110.00 price target on the stock. in a research note on Friday, October 9th. Finally, BMO Capital Markets lifted their price target on American Express from $96.00 to $100.00 in a research note on Monday, July 27th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $105.04.
Shares of AXP opened at $96.69 on Monday. The company has a market capitalization of $77.85 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 4.19 and a beta of 1.22. The business has a 50-day moving average of $100.23 and a 200-day moving average of $97.08. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47. American Express has a 1 year low of $67.00 and a 1 year high of $138.13.
American Express (NYSE:AXP) last issued its earnings results on Friday, October 23rd. The payment services company reported $1.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.09). The business had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $8.71 billion. American Express had a return on equity of 21.31% and a net margin of 8.84%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, sell-side analysts anticipate that American Express will post 4.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be issued a $0.43 dividend. The ex-dividend date is Thursday, October 8th. This represents a $1.72 dividend on an annualized basis and a yield of 1.78%. American Express’s payout ratio is currently 20.98%.
In other American Express news, insider Denise Pickett sold 2,864 shares of American Express stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $96.62, for a total value of $276,719.68. Following the completion of the sale, the insider now directly owns 10,202 shares in the company, valued at $985,717.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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