American Express (NYSE:AXP) Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 28.6% in the third quarter, Holdings Channel reports. The firm owned 1,023 shares of the payment services company’s stock after selling 409 shares during the period. Crescent Grove Advisors LLC’s holdings in American Express were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. Sovereign Financial Group Inc. increased its stake in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after acquiring an additional 38 shares during the period. Legacy Financial Strategies LLC increased its position in American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the period. Concord Wealth Partners raised its stake in shares of American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after buying an additional 40 shares in the last quarter. Sawgrass Asset Management LLC lifted its holdings in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares during the period. Finally, Godsey & Gibb Inc. boosted its stake in shares of American Express by 3.5% in the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after buying an additional 41 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 7.0 %

Shares of AXP stock opened at $295.12 on Thursday. American Express has a fifty-two week low of $152.05 and a fifty-two week high of $296.83. The firm’s 50 day moving average price is $267.52 and its two-hundred day moving average price is $248.67. The stock has a market cap of $207.90 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations 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 was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 EPS. On average, analysts anticipate that American Express will post 13.41 EPS for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. American Express’s dividend payout ratio is currently 20.60%.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 0.00 % 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 company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AXP shares. Barclays increased their price objective on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research 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. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. HSBC cut shares of 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 report on Tuesday, October 8th. Finally, Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $253.09.

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.