Commerce Bank reduced its position in American Express Co. (NYSE:AXP) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 201,349 shares of the payment services company’s stock after selling 12,886 shares during the period. Commerce Bank’s holdings in American Express were worth $12,895,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AXP. Tesco Pension Investment Ltd bought a new stake in shares of American Express during the third quarter worth about $141,780,000. Dodge & Cox increased its stake in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock worth $1,716,387,000 after buying an additional 1,888,379 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of American Express during the second quarter worth about $111,313,000. International Value Advisers LLC bought a new stake in shares of American Express during the second quarter worth about $83,148,000. Finally, Bank of Montreal Can bought a new stake in shares of American Express during the second quarter worth about $61,068,000. Institutional investors own 80.82% of the company’s stock.

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

American Express Co. (NYSE:AXP) traded down 0.40% during mid-day trading on Tuesday, hitting $71.84. The stock had a trading volume of 1,668,853 shares. The firm has a market cap of $65.75 billion, a P/E ratio of 12.76 and a beta of 1.19. The stock has a 50-day moving average price of $67.04 and a 200 day moving average price of $64.69. American Express Co. has a 12-month low of $50.27 and a 12-month high of $73.18.

American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. The firm had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.70 billion. American Express had a return on equity of 27.84% and a net margin of 16.67%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. Equities analysts anticipate that American Express Co. will post $5.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, January 6th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.76%. American Express’s dividend payout ratio is presently 22.70%.

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A number of analysts have weighed in on AXP shares. Vetr upgraded American Express from a “strong sell” rating to a “sell” rating and set a $57.00 target price on the stock in a research note on Tuesday, October 18th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of American Express in a research note on Saturday, October 22nd. Credit Suisse Group AG reiterated a “sell” rating and issued a $62.00 target price on shares of American Express in a research note on Friday, September 16th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $74.00 target price on shares of American Express in a research note on Monday, September 12th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.65.

In related news, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the transaction, the insider now owns 56,870 shares in the company, valued at approximately $4,006,491.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ashwini Gupta sold 146,030 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $72.28, for a total value of $10,555,048.40. Following the transaction, the insider now owns 298,910 shares in the company, valued at approximately $21,605,214.80. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

American Express Company Profile

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

5 Day Chart for NYSE:AXP

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