American Express (NYSE:AXP) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,249 shares of the payment services company’s stock after selling 253 shares during the period. PFG Investments LLC’s holdings in American Express were worth $1,695,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 662,382 shares during the period. TD Asset Management Inc grew its holdings in shares of American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners raised its position in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express in the 1st quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB boosted its position in American Express by 14.2% during the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after purchasing an additional 224,079 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

American Express Stock Down 1.0 %

NYSE AXP opened at $267.35 on Friday. American Express has a 12 month low of $141.02 and a 12 month high of $286.36. The company has a market capitalization of $192.31 billion, a P/E ratio of 22.02, a PEG ratio of 1.50 and a beta of 1.21. The company’s 50 day simple moving average is $263.88 and its 200 day simple moving average is $245.57. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last posted its quarterly earnings results 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 net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the previous year, the business posted $3.30 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group increased their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. TD Cowen boosted their target price on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $253.09.

American Express 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.