Front Barnett Associates LLC Lowers Stake in American Express (AXP)

Front Barnett Associates LLC cut its holdings in American Express (NYSE:AXP) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,837 shares of the payment services company’s stock after selling 2,772 shares during the quarter. American Express makes up 1.4% of Front Barnett Associates LLC’s portfolio, making the stock its 28th largest position. Front Barnett Associates LLC’s holdings in American Express were worth $9,567,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Motley Fool Asset Management LLC increased its stake in shares of American Express by 16.3% in the second quarter. Motley Fool Asset Management LLC now owns 9,314 shares of the payment services company’s stock valued at $913,000 after buying an additional 1,307 shares in the last quarter. BlackRock Inc. increased its position in American Express by 1.4% in the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after purchasing an additional 626,323 shares during the period. Tiedemann Advisors LLC increased its position in American Express by 55.4% in the second quarter. Tiedemann Advisors LLC now owns 18,749 shares of the payment services company’s stock worth $1,837,000 after purchasing an additional 6,684 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in American Express by 251.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 136,187 shares of the payment services company’s stock worth $13,346,000 after purchasing an additional 97,384 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in American Express by 18.5% in the second quarter. Flagship Harbor Advisors LLC now owns 5,005 shares of the payment services company’s stock worth $490,000 after purchasing an additional 783 shares during the period. Institutional investors own 82.98% of the company’s stock.

In other American Express news, major shareholder Ventures Fund Vii L.P. Vivo acquired 20,142,123 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were acquired at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $103.84, for a total value of $1,298,000.00. Following the transaction, the chairman now owns 209,957 shares in the company, valued at approximately $21,801,934.88. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Shares of AXP opened at $108.28 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58. American Express has a 1 year low of $87.54 and a 1 year high of $111.77. The stock has a market cap of $91.67 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.45 and a beta of 1.06.

American Express (NYSE:AXP) last issued its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter last year, the business earned $1.50 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that American Express will post 7.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a yield of 1.44%. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is 26.58%.

AXP has been the subject of a number of research reports. Bank of America set a $125.00 price objective on American Express and gave the stock a “buy” rating in a research report on Friday, October 19th. Nomura lifted their price objective on American Express from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, October 19th. Oppenheimer reiterated a “buy” rating and issued a $114.00 price objective on shares of American Express in a research report on Thursday, October 18th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, October 9th. Finally, DZ Bank upgraded American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $112.70.

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About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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