Chemung Canal Trust Co. trimmed its holdings in shares of American Express (NYSE:AXP) by 53.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,745 shares of the payment services company’s stock after selling 8,811 shares during the period. Chemung Canal Trust Co.’s holdings in American Express were worth $936,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bfsg LLC raised its stake in American Express by 1.0% in the 3rd quarter. Bfsg LLC now owns 16,928 shares of the payment services company’s stock valued at $1,697,000 after acquiring an additional 175 shares during the period. First Hawaiian Bank raised its stake in American Express by 28.9% in the 4th quarter. First Hawaiian Bank now owns 30,670 shares of the payment services company’s stock valued at $3,708,000 after acquiring an additional 6,881 shares during the period. Boston Partners raised its stake in American Express by 4.6% in the 3rd quarter. Boston Partners now owns 400,877 shares of the payment services company’s stock valued at $40,188,000 after acquiring an additional 17,622 shares during the period. Voloridge Investment Management LLC raised its stake in American Express by 1,230.9% in the 3rd quarter. Voloridge Investment Management LLC now owns 48,204 shares of the payment services company’s stock valued at $4,832,000 after acquiring an additional 44,582 shares during the period. Finally, MADDEN SECURITIES Corp bought a new stake in American Express in the 3rd quarter valued at about $261,000. Institutional investors and hedge funds own 83.54% of the company’s stock.

A number of brokerages recently issued reports on AXP. BidaskClub cut American Express from a “hold” rating to a “sell” rating in a research note on Tuesday, December 15th. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating and set a $126.00 target price for the company. in a report on Wednesday, November 25th. 140166 lowered American Express from a “positive” rating to a “neutral” rating and set a $110.00 target price for the company. in a report on Friday, October 9th. UBS Group raised American Express from a “sell” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $116.00 in a report on Tuesday, November 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $108.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, January 6th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $115.85.

In related news, insider Douglas E. Buckminster sold 14,827 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $96.85, for a total value of $1,435,994.95. Following the sale, the insider now directly owns 96,633 shares of the company’s stock, valued at $9,358,906.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anna Marrs sold 2,064 shares of the company’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $119.56, for a total value of $246,771.84. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Shares of American Express stock traded up $0.78 during midday trading on Wednesday, reaching $122.40. 3,675,703 shares of the company’s stock traded hands, compared to its average volume of 4,092,238. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $98.56 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 3.27 and a beta of 1.36. The stock has a 50 day moving average of $120.16 and a 200-day moving average of $105.48. American Express has a 12 month low of $67.00 and a 12 month high of $138.13.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). The business had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $8.71 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. American Express’s revenue was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. On average, equities analysts anticipate that American Express will post 4.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 10th. Investors of record on Friday, January 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, January 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.41%. American Express’s dividend payout ratio is presently 20.98%.

American Express Company Profile

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

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