CreativeOne Wealth LLC Trims Holdings in American Express (NYSE:AXP)

CreativeOne Wealth LLC trimmed its holdings in American Express (NYSE:AXP) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,990 shares of the payment services company’s stock after selling 103 shares during the quarter. CreativeOne Wealth LLC’s holdings in American Express were worth $3,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. International Assets Investment Management LLC boosted its stake in American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after purchasing an additional 906,353 shares during the period. FMR LLC boosted its stake in American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in American Express by 924.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares during the period. Pathway Financial Advisers LLC boosted its stake in American Express by 59,816.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in American Express by 71.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after purchasing an additional 486,755 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research reports. HSBC downgraded American Express from a “buy” rating to a “hold” rating and increased their target price for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Morgan Stanley increased their target price on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Bank of America increased their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.09.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on 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 owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anre D. Williams sold 77,887 shares of the company’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 sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Price Performance

AXP opened at $304.28 on Thursday. The business’s 50-day moving average is $278.61 and its two-hundred day moving average is $254.61. American Express has a 1 year low of $163.61 and a 1 year high of $307.82. 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 has a market capitalization of $214.35 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly 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 return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the company earned $3.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. American Express’s payout ratio is 20.60%.

American Express Company Profile

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.