Gateway Investment Advisers LLC lessened its holdings in American Express (NYSE:AXP) by 92.0% during the third quarter, Holdings Channel reports. The fund owned 40,608 shares of the payment services company’s stock after selling 465,174 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American Express were worth $4,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Titus Wealth Management increased its stake in American Express by 22.5% in the 2nd quarter. Titus Wealth Management now owns 2,722 shares of the payment services company’s stock valued at $267,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC increased its stake in American Express by 5.8% in the 2nd quarter. Parallel Advisors LLC now owns 9,441 shares of the payment services company’s stock valued at $925,000 after buying an additional 516 shares during the last quarter. Legacy Advisors LLC increased its stake in American Express by 25.6% in the 2nd quarter. Legacy Advisors LLC now owns 2,606 shares of the payment services company’s stock valued at $255,000 after buying an additional 531 shares during the last quarter. Guidant Wealth Advisors increased its stake in American Express by 280.7% in the 2nd quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after buying an additional 595 shares during the last quarter. Finally, First Financial Bank Trust Division increased its stake in American Express by 24.6% in the 2nd quarter. First Financial Bank Trust Division now owns 3,037 shares of the payment services company’s stock valued at $298,000 after buying an additional 600 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.

Several equities research analysts have commented on AXP shares. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Oppenheimer reiterated a “buy” rating and issued a $114.00 price objective on shares of American Express in a research note on Thursday. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, October 9th. Finally, Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and increased their price objective for the company from $111.00 to $112.00 in a research note on Friday, June 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $111.31.

In other American Express news, CFO Scott Murcray acquired 350,000 shares of the business’s stock in a transaction that occurred on Monday, September 3rd. The stock was bought at an average cost of $0.28 per share, with a total value of $98,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ventures Fund Vii L.P. Vivo acquired 20,142,123 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average cost of $0.17 per share, with a total value of $3,424,160.91. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 47,448 shares of company stock valued at $4,942,168. 0.20% of the stock is owned by insiders.

American Express stock opened at $106.73 on Friday. American Express has a twelve month low of $87.54 and a twelve month high of $111.77. The company has a market cap of $88.55 billion, a PE ratio of 14.36, a P/E/G ratio of 1.41 and a beta of 1.17. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 2.67.

American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a net margin of 9.51% and a return on equity of 32.01%. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the prior year, the firm earned $1.50 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that American Express will post 7.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This is an increase from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.46%. American Express’s dividend payout ratio (DPR) is 26.58%.

American Express declared that its board has approved a stock buyback program on Thursday, June 28th that allows the company to repurchase $3.40 billion in shares. This repurchase authorization allows the payment services company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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