Garrison Asset Management LLC Sells 80 Shares of American Express (NYSE:AXP)

Garrison Asset Management LLC reduced its stake in shares of American Express (NYSE:AXP) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,851 shares of the payment services company’s stock after selling 80 shares during the quarter. Garrison Asset Management LLC’s holdings in American Express were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 662,382 shares in the last quarter. TD Asset Management Inc increased its position in American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after buying an additional 195,876 shares in the last quarter. Boston Partners raised its stake in American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the first quarter worth about $433,709,000. Finally, abrdn plc grew its stake in shares of American Express by 2.2% during the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock worth $343,437,000 after acquiring an additional 27,859 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction 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 approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AXP shares. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Monness Crespi & Hardt raised their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group increased their price target 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. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Price Performance

NYSE:AXP traded down $1.23 during trading hours on Monday, reaching $271.46. 130,068 shares of the company were exchanged, compared to its average volume of 2,902,991. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average is $266.02 and its 200-day moving average is $247.66. The firm has a market cap of $191.23 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. American Express has a twelve month low of $151.51 and a twelve month high of $286.36.

American Express (NYSE:AXP) last announced its quarterly earnings data 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. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same quarter last year, the firm posted $3.30 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio is presently 20.60%.

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.