American Express (NYSE:AXP) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. trimmed its holdings in American Express (NYSE:AXP) by 17.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,158 shares of the payment services company’s stock after selling 450 shares during the quarter. Pittenger & Anderson Inc.’s holdings in American Express were worth $585,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AXP. Cetera Advisors LLC grew its position in shares of American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after buying an additional 21,508 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of American Express by 102.9% during the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of American Express during the first quarter worth about $1,881,000. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after purchasing an additional 7,885 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of American Express by 49.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after purchasing an additional 91,760 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE:AXP opened at $276.08 on Wednesday. The firm’s fifty day simple moving average is $266.76 and its 200-day simple moving average is $248.34. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock has a market cap of $194.48 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. American Express has a fifty-two week low of $151.51 and a fifty-two week high of $286.36.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same period in the prior year, the business posted $3.30 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts expect that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.01%. American Express’s dividend payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXP shares. Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Barclays lifted their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Finally, Monness Crespi & Hardt upped their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.09.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Anre D. Williams sold 77,887 shares of the company’s 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 sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was 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 of the company’s stock, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

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.