Versant Capital Management Inc Reduces Position in American Express (NYSE:AXP)

Versant Capital Management Inc lowered its stake in shares of American Express (NYSE:AXP) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 758 shares of the payment services company’s stock after selling 95 shares during the period. Versant Capital Management Inc’s holdings in American Express were worth $89,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. HMS Capital Management LLC purchased a new position in American Express in the 2nd quarter valued at approximately $37,000. Enterprise Trust & Investment Co bought a new position in shares of American Express during the third quarter valued at about $38,000. Edge Wealth Management LLC raised its stake in shares of American Express by 140.3% during the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after acquiring an additional 216 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of American Express during the second quarter valued at about $48,000. Finally, Prestige Wealth Management Group LLC bought a new position in shares of American Express during the second quarter valued at about $49,000. Institutional investors own 85.43% of the company’s stock.

Shares of NYSE:AXP traded up $0.19 on Friday, reaching $121.47. The company’s stock had a trading volume of 1,953,078 shares, compared to its average volume of 3,349,832. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The company has a market cap of $97.19 billion, a P/E ratio of 16.57, a PEG ratio of 1.38 and a beta of 1.05. The company has a 50-day simple moving average of $117.31 and a 200 day simple moving average of $120.44. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.01. American Express had a net margin of 16.51% and a return on equity of 29.68%. The firm had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business earned $1.88 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that American Express will post 8.16 EPS for the current fiscal year.

The business also recently disclosed a 0.39000 dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, October 3rd. This represents a yield of 1.3%. American Express’s payout ratio is 23.47%.

In other American Express news, insider Denise Pickett sold 2,400 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $118.39, for a total transaction of $284,136.00. Following the transaction, the insider now owns 9,788 shares of the company’s stock, valued at approximately $1,158,801.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore Leonsis sold 8,420 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total transaction of $980,424.80. Following the transaction, the director now directly owns 11,580 shares in the company, valued at approximately $1,348,375.20. The disclosure for this sale can be found here. Insiders have sold a total of 25,820 shares of company stock valued at $3,039,511 in the last quarter. 0.21% of the stock is currently owned by company insiders.

AXP has been the subject of several recent analyst reports. BMO Capital Markets upped their price objective on shares of American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. set a $122.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Tuesday, October 8th. Oppenheimer set a $126.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada boosted their price target on shares of American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $124.96.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Mutual funds are not immune from market timing

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

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