Lincoln National Corp Buys 977 Shares of American Express (NYSE:AXP)

Lincoln National Corp increased its stake in shares of American Express (NYSE:AXP) by 5.7% in the third quarter, Holdings Channel.com reports. The fund owned 18,071 shares of the payment services company’s stock after purchasing an additional 977 shares during the period. Lincoln National Corp’s holdings in American Express were worth $2,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC lifted its position in American Express by 239.0% during the third quarter. Addison Advisors LLC now owns 200 shares of the payment services company’s stock valued at $27,000 after purchasing an additional 141 shares during the last quarter. Karp Capital Management Corp bought a new position in American Express during the third quarter valued at $28,000. Heritage Wealth Management LLC bought a new position in American Express during the second quarter valued at $31,000. WFA of San Diego LLC bought a new position in American Express during the second quarter valued at $41,000. Finally, Castleview Partners LLC lifted its position in American Express by 150.5% during the second quarter. Castleview Partners LLC now owns 957 shares of the payment services company’s stock valued at $49,000 after purchasing an additional 575 shares during the last quarter. Institutional investors own 83.30% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of American Express stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $154.23, for a total value of $2,522,277.42. Following the completion of the sale, the insider now directly owns 99,024 shares in the company, valued at approximately $15,272,471.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Express news, Director Walter Joseph Clayton III purchased 1,000 shares of American Express stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $149.27 per share, with a total value of $149,270.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $149,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 16,354 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $154.23, for a total transaction of $2,522,277.42. Following the transaction, the insider now directly owns 99,024 shares of the company’s stock, valued at $15,272,471.52. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

American Express Stock Up 1.6 %

NYSE:AXP opened at $154.00 on Tuesday. American Express has a fifty-two week low of $130.65 and a fifty-two week high of $199.55. The stock has a market capitalization of $115.07 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.20 and a beta of 1.14. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.61 and a current ratio of 1.61. The company’s 50-day simple moving average is $151.58 and its 200-day simple moving average is $150.25.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings results on Friday, October 21st. The payment services company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.05. American Express had a net margin of 15.02% and a return on equity of 33.28%. The business had revenue of $13.56 billion for the quarter, compared to analysts’ expectations of $13.58 billion. During the same period last year, the business earned $2.27 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. On average, equities analysts anticipate that American Express will post 9.96 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 6th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, January 5th. American Express’s dividend payout ratio is currently 20.90%.

Analyst Ratings Changes

Several equities analysts have commented on AXP shares. Atlantic Securities lowered their price objective on shares of American Express from $175.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday, October 12th. BMO Capital Markets increased their target price on shares of American Express from $163.00 to $166.00 and gave the company a “market perform” rating in a research note on Monday, October 24th. StockNews.com began coverage on shares of American Express in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays increased their target price on shares of American Express from $145.00 to $158.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of American Express from $170.00 to $166.00 in a research note on Tuesday, January 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $170.74.

About American Express

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American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.

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

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