Carl P. Sherr & Co. LLC Has $2.52 Million Stake in American Express (NYSE:AXP)

Carl P. Sherr & Co. LLC trimmed its holdings in American Express (NYSE:AXP) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 9,300 shares of the payment services company’s stock after selling 99 shares during the period. American Express makes up 1.3% of Carl P. Sherr & Co. LLC’s holdings, making the stock its 17th largest holding. Carl P. Sherr & Co. LLC’s holdings in American Express were worth $2,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new position in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in American Express in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. increased its stake in 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 acquiring an additional 49 shares during the last quarter. POM Investment Strategies LLC bought a new position in American Express in the second quarter valued at approximately $42,000. Finally, Founders Capital Management bought a new position in American Express in the second quarter valued at approximately $46,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 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 $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. 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. Barclays boosted their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Four investment 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $253.09.

American Express Price Performance

Shares of NYSE AXP opened at $304.25 on Friday. The firm’s 50-day moving average price is $279.32 and its 200-day moving average price is $254.96. American Express has a 1-year low of $163.61 and a 1-year high of $307.82. The firm has a market capitalization of $214.33 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.75 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.30 earnings per share. Equities research analysts anticipate that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

American Express 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.