American Express (NYSE:AXP) Shares Sold by Invesco LLC

Invesco LLC reduced its holdings in American Express (NYSE:AXP) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,654 shares of the payment services company’s stock after selling 110 shares during the quarter. American Express accounts for 1.4% of Invesco LLC’s portfolio, making the stock its 18th largest position. Invesco LLC’s holdings in American Express were worth $3,432,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. boosted its position in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after buying an additional 49 shares during the period. BNP Paribas acquired a new stake in shares of American Express in the first quarter worth $40,000. POM Investment Strategies LLC acquired a new stake in shares of American Express in the second quarter worth $42,000. Founders Capital Management acquired a new stake in shares of American Express in the second quarter worth $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express in the third quarter worth $46,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AXP shares. Bank of America raised their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. TD Cowen lifted their price objective on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Jefferies Financial Group lifted their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $253.09.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of NYSE:AXP traded up $2.61 during trading on Friday, reaching $272.69. The stock had a trading volume of 2,508,471 shares, compared to its average volume of 2,916,070. The stock has a market capitalization of $192.10 billion, a PE ratio of 20.07, a P/E/G ratio of 1.49 and a beta of 1.21. American Express has a 52 week low of $148.33 and a 52 week high of $286.36. The business’s 50-day moving average price is $266.02 and its 200 day moving average price is $247.24. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.41 earnings per share for the current 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 given 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 1.03%. American Express’s payout ratio is 20.60%.

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.