SteelPeak Wealth LLC Sells 20,444 Shares of American Express (NYSE:AXP)

SteelPeak Wealth LLC lowered its stake in shares of American Express (NYSE:AXP) by 87.5% during the third quarter, HoldingsChannel reports. The fund owned 2,933 shares of the payment services company’s stock after selling 20,444 shares during the quarter. SteelPeak Wealth LLC’s holdings in American Express were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position 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 increased its position in 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 worth $590,940,000 after acquiring an additional 195,876 shares during the period. Boston Partners increased its position in 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 acquiring an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd bought a new position in American Express during the first quarter worth $433,709,000. Finally, Nordea Investment Management AB increased its position in American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after acquiring an additional 224,079 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

American Express Stock Performance

American Express stock opened at $274.14 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1 year low of $143.07 and a 1 year high of $286.36. The company has a market cap of $193.12 billion, a PE ratio of 20.17, a PEG ratio of 1.50 and a beta of 1.21. The company’s 50-day moving average is $265.14 and its two-hundred day moving average is $246.71.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.30 EPS. Equities analysts anticipate that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.02%. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Morgan Stanley boosted their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. 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 company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus target price of $253.09.

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.