American Express Company $AXP Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its holdings in shares of American Express Company (NYSE:AXP) by 13.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 366,243 shares of the payment services company’s stock after selling 58,329 shares during the period. American Express makes up approximately 1.7% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 10th largest holding. Douglas Lane & Associates LLC’s holdings in American Express were worth $121,651,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bath Savings Trust Co raised its position in American Express by 1.1% in the third quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock worth $971,000 after acquiring an additional 31 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after purchasing an additional 32 shares during the period. DLK Investment Management LLC grew its stake in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after purchasing an additional 32 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of American Express by 5.3% in the 3rd quarter. AdvisorNet Financial Inc now owns 634 shares of the payment services company’s stock valued at $211,000 after purchasing an additional 32 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in shares of American Express by 1.0% in the second quarter. Bahl & Gaynor Inc. now owns 3,291 shares of the payment services company’s stock valued at $1,050,000 after purchasing an additional 33 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other American Express news, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,515 shares of company stock valued at $20,658,509 over the last 90 days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings cut American Express from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 15th. Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. UBS Group boosted their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $334.30.

American Express Stock Performance

NYSE AXP opened at $376.40 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $387.49. The stock has a market cap of $259.28 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. The business has a fifty day moving average of $360.14 and a 200-day moving average of $331.25. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter. The company had revenue of ($17,139.00) million for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, analysts predict that American Express Company will post 15.33 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 Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s payout ratio is 22.01%.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.