Noesis Capital Mangement Corp Sells 3,502 Shares of American Express (NYSE:AXP)

Noesis Capital Mangement Corp cut its holdings in shares of American Express (NYSE:AXP) by 3.4% in the 1st quarter, Holdings Channel reports. The firm owned 99,401 shares of the payment services company’s stock after selling 3,502 shares during the period. American Express makes up approximately 5.0% of Noesis Capital Mangement Corp’s portfolio, making the stock its 3rd largest holding. Noesis Capital Mangement Corp’s holdings in American Express were worth $22,633,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of American Express by 4.4% in the 3rd quarter. Creative Planning now owns 128,850 shares of the payment services company’s stock valued at $19,223,000 after acquiring an additional 5,460 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of American Express by 35.4% in the third quarter. OLD National Bancorp IN now owns 5,350 shares of the payment services company’s stock valued at $798,000 after purchasing an additional 1,400 shares in the last quarter. Comerica Bank boosted its position in shares of American Express by 222.5% in the third quarter. Comerica Bank now owns 163,709 shares of the payment services company’s stock worth $24,424,000 after buying an additional 112,952 shares during the period. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of American Express during the third quarter valued at $10,692,000. Finally, Invst LLC grew its holdings in shares of American Express by 5.9% during the third quarter. Invst LLC now owns 8,975 shares of the payment services company’s stock valued at $1,339,000 after buying an additional 498 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP traded down $0.18 during midday trading on Thursday, reaching $238.75. The company’s stock had a trading volume of 1,868,686 shares, compared to its average volume of 3,002,492. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $234.68 and a 200 day simple moving average of $219.14. The stock has a market cap of $171.73 billion, a P/E ratio of 19.68, a PEG ratio of 1.34 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $244.41.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter last year, the company posted $2.40 earnings per share. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that American Express will post 12.98 earnings per share for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock worth $41,680,999 over the last three months. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AXP shares. Barclays raised their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Evercore ISI boosted their price target on shares of American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a report on Wednesday, April 24th. Morgan Stanley increased their price objective on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $225.50.

About American Express

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.