American Express Company $AXP Position Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of American Express Company (NYSE:AXP) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 305,333 shares of the payment services company’s stock after purchasing an additional 1,561 shares during the quarter. Commonwealth Equity Services LLC’s holdings in American Express were worth $101,419,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AXP. Norges Bank bought a new stake in American Express in the second quarter valued at about $1,897,335,000. Laurel Wealth Advisors LLC grew its position in shares of American Express by 31,595.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after acquiring an additional 1,736,513 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after acquiring an additional 1,349,746 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of American Express by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock valued at $988,676,000 after acquiring an additional 646,039 shares during the last quarter. Finally, Provident Trust Co. raised its position in shares of American Express by 136.6% during the 2nd quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after acquiring an additional 640,214 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise Pickett sold 5,000 shares of the company’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 transaction 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. This represents a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,515 shares of company stock worth $20,658,509 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $379.84 on Tuesday. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a market cap of $261.65 billion, a PE ratio of 25.49, a P/E/G ratio of 1.56 and a beta of 1.15. The stock has a 50 day simple moving average of $367.41 and a 200-day simple moving average of $337.73. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million for the quarter, compared to the consensus estimate of $18.91 billion. On average, equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Barclays lifted their price target on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Evercore ISI increased their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Compass Point reiterated a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $335.55.

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.