American Express (NYSE:AXP) Shares Sold by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC decreased its position in shares of American Express (NYSE:AXP) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,273 shares of the payment services company’s stock after selling 50 shares during the quarter. Mayfair Advisory Group LLC’s holdings in American Express were worth $351,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AXP. Alphinity Investment Management Pty Ltd purchased a new position in shares of American Express during the first quarter worth about $433,709,000. International Assets Investment Management LLC grew its holdings in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after purchasing an additional 906,353 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of American Express during the first quarter worth about $114,990,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $267.23 on Friday. The firm has a 50 day moving average of $263.88 and a 200-day moving average of $245.39. American Express has a 12-month low of $141.02 and a 12-month high of $286.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $192.22 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the previous year, the firm posted $3.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.05%. American Express’s dividend payout ratio is currently 23.06%.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Evercore ISI raised their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Royal Bank of Canada raised their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Finally, Monness Crespi & Hardt raised their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.09.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.