Coastline Trust Co Raises Stock Holdings in American Express (NYSE:AXP)

Coastline Trust Co grew its position in American Express (NYSE:AXP) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,080 shares of the payment services company’s stock after buying an additional 858 shares during the period. American Express accounts for about 0.9% of Coastline Trust Co’s portfolio, making the stock its 27th largest position. Coastline Trust Co’s holdings in American Express were worth $7,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AXP. Price T Rowe Associates Inc. MD raised its position in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Boston Partners lifted its stake in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of American Express by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock valued at $456,418,000 after buying an additional 7,676 shares during the last quarter. abrdn plc increased its position in shares of American Express by 2.2% in the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after acquiring an additional 27,859 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in American Express by 2.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock worth $282,589,000 after acquiring an additional 23,487 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays boosted their price target on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America increased their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Monness Crespi & Hardt boosted their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $253.09.

American Express Price Performance

Shares of AXP opened at $286.80 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a twelve month low of $157.97 and a twelve month high of $296.83. The firm has a market capitalization of $202.04 billion, a PE ratio of 21.10, a P/E/G ratio of 1.65 and a beta of 1.21. The stock’s 50 day moving average is $272.31 and its two-hundred day moving average is $251.09.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $3.30 earnings per share. Research analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. American Express’s dividend payout ratio is currently 20.60%.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.