American Express (NYSE:AXP) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC cut its holdings in American Express (NYSE:AXP) by 43.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,498 shares of the payment services company’s stock after selling 11,300 shares during the period. Taurus Asset Management LLC’s holdings in American Express were worth $3,932,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kennebec Savings Bank acquired a new stake in shares of American Express in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express during the third quarter worth approximately $46,000. Capital Performance Advisors LLP acquired a new stake in American Express during the third quarter worth approximately $48,000. Finally, POM Investment Strategies LLC acquired a new stake in American Express during the second quarter worth approximately $42,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Royal Bank of Canada raised their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.09.

American Express Stock Performance

American Express stock opened at $286.87 on Monday. American Express has a 12-month low of $157.97 and a 12-month high of $296.83. The company has a market capitalization of $202.09 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The firm’s fifty day moving average price is $272.31 and its 200 day moving average price is $251.34.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) 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 firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that American Express will post 13.47 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% 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.