Galvin Gaustad & Stein LLC Decreases Stock Position in American Express Company $AXP

Galvin Gaustad & Stein LLC decreased its stake in shares of American Express Company (NYSE:AXP) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,395 shares of the payment services company’s stock after selling 4,079 shares during the period. American Express accounts for approximately 1.8% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 16th biggest position. Galvin Gaustad & Stein LLC’s holdings in American Express were worth $21,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Brighton Jones LLC raised its holdings in American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after acquiring an additional 1,273 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in shares of American Express in the 1st quarter valued at approximately $280,000. Ashton Thomas Private Wealth LLC raised its holdings in shares of American Express by 4.2% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,240 shares of the payment services company’s stock valued at $2,755,000 after purchasing an additional 417 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in shares of American Express by 3.5% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,232 shares of the payment services company’s stock worth $601,000 after purchasing an additional 76 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of American Express during the first quarter worth $1,488,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were 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 owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 57,515 shares of company stock valued at $20,658,509. Insiders own 0.20% of the company’s stock.

American Express Trading Up 1.1%

AXP opened at $383.81 on Wednesday. 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 Company has a 52 week low of $220.43 and a 52 week high of $387.49. The business’s 50 day moving average is $367.86 and its two-hundred day moving average is $338.34. The firm has a market cap of $264.39 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15.

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

American Express Announces Dividend

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

Analyst Ratings Changes

AXP has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $420.00 price target on shares of American Express in a research note on Tuesday. Morgan Stanley set a $370.00 price objective on American Express in a report on Tuesday, December 16th. Weiss Ratings upgraded American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Evercore ISI set a $400.00 price objective on shares of American Express in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $342.40.

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.