Canoe Financial LP Has $163.74 Million Stake in American Express Company $AXP

Canoe Financial LP reduced its holdings in American Express Company (NYSE:AXP) by 26.7% in the 3rd quarter, Holdings Channel reports. The fund owned 492,943 shares of the payment services company’s stock after selling 179,338 shares during the quarter. American Express accounts for 2.3% of Canoe Financial LP’s portfolio, making the stock its 13th biggest position. Canoe Financial LP’s holdings in American Express were worth $163,736,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of American Express by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after purchasing an additional 49,593 shares in the last quarter. Dempze Nancy E raised its position in American Express by 210.2% in the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 2,344 shares during the last quarter. Reliant Investment Management LLC lifted its stake in American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after acquiring an additional 480 shares in the last quarter. SLT Holdings LLC lifted its stake in American Express by 31.3% in the 2nd quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock valued at $322,000 after acquiring an additional 240 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its position in American Express by 0.9% during the 2nd quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock worth $26,438,000 after acquiring an additional 764 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of American Express in a report on Monday, December 8th. They set a “peer perform” rating for the company. Compass Point reissued a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday, October 20th. UBS Group raised their price objective on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. HSBC set a $295.00 target price on American Express and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen downgraded American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $335.55.

Insider Transactions at American Express

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

American Express Price Performance

NYSE:AXP opened at $382.75 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The firm has a market capitalization of $263.66 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 1.83 and a beta of 1.14. The stock’s 50 day moving average price is $364.50 and its two-hundred day moving average price is $333.35. 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 earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of ($17,139.00) million for the quarter. On average, analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. American Express’s dividend payout ratio is presently 22.01%.

American Express Profile

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.