CX Institutional Increases Holdings in American Express Company $AXP

CX Institutional grew its holdings in American Express Company (NYSE:AXP) by 118.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 34,339 shares of the payment services company’s stock after acquiring an additional 18,589 shares during the quarter. CX Institutional’s holdings in American Express were worth $11,406,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. increased its stake in American Express by 1.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after purchasing an additional 29 shares during the last quarter. Sandy Cove Advisors LLC boosted its holdings in shares of American Express by 2.1% in the 3rd quarter. Sandy Cove Advisors LLC now owns 1,462 shares of the payment services company’s stock valued at $485,000 after buying an additional 30 shares in the last quarter. Bath Savings Trust Co grew its position in shares of American Express by 1.1% in the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock valued at $971,000 after buying an additional 31 shares during the last quarter. Jamison Private Wealth Management Inc. raised its stake in American Express by 0.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 4,220 shares of the payment services company’s stock worth $1,402,000 after acquiring an additional 31 shares in the last quarter. Finally, Berger Financial Group Inc raised its stake in American Express by 1.4% during the 3rd quarter. Berger Financial Group Inc now owns 2,232 shares of the payment services company’s stock worth $741,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Up 1.1%

Shares of AXP stock opened at $383.81 on Wednesday. The company has a market capitalization of $264.39 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $367.86 and its two-hundred day moving average is $338.34. American Express Company has a twelve month low of $220.43 and a twelve month high of $387.49.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of ($17,139.00) million for the quarter, compared to analyst estimates of $18.91 billion. Equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s payout ratio is 22.01%.

Insider Buying and Selling

In other news, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares in the company, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,515 shares of company stock valued at $20,658,509 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley set a $370.00 price objective on American Express in a report on Tuesday, December 16th. Wolfe Research assumed coverage on American Express in a research note on Monday, December 8th. They set a “peer perform” rating on the stock. Evercore ISI set a $400.00 price objective on American Express in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $420.00 price objective on shares of American Express in a report on Tuesday. Finally, BTIG Research raised their target price on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research report on Friday, October 17th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $342.40.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.