CVA Family Office LLC Sells 89 Shares of American Express (NYSE:AXP)

CVA Family Office LLC cut its stake in shares of American Express (NYSE:AXP) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,058 shares of the payment services company’s stock after selling 89 shares during the quarter. CVA Family Office LLC’s holdings in American Express were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Centaurus Financial Inc. increased its position in American Express by 9.2% during the 4th quarter. Centaurus Financial Inc. now owns 1,211 shares of the payment services company’s stock valued at $227,000 after purchasing an additional 102 shares during the period. EP Wealth Advisors LLC raised its stake in American Express by 8.5% in the fourth quarter. EP Wealth Advisors LLC now owns 21,605 shares of the payment services company’s stock worth $4,047,000 after buying an additional 1,700 shares in the last quarter. Scarborough Advisors LLC bought a new position in American Express in the fourth quarter worth approximately $25,000. Transcendent Capital Group LLC bought a new stake in American Express during the 4th quarter valued at $37,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express in the 4th quarter valued at $32,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a research note on Tuesday, October 8th. Barclays raised their price target on shares of American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Bank of America boosted their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group upped their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $239.96.

American Express Trading Up 2.1 %

AXP stock opened at $276.16 on Monday. American Express has a 52-week low of $140.91 and a 52-week high of $277.11. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $198.64 billion, a P/E ratio of 22.75, a PEG ratio of 1.50 and a beta of 1.21. The company’s 50-day simple moving average is $256.44 and its 200-day simple moving average is $242.17.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.89 EPS. As a group, equities analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s payout ratio is currently 23.06%.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.