Harbour Investments Inc. Buys 708 Shares of American Express (NYSE:AXP)

Harbour Investments Inc. increased its position in American Express (NYSE:AXP) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,302 shares of the payment services company’s stock after purchasing an additional 708 shares during the period. Harbour Investments Inc.’s holdings in American Express were worth $1,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AXP. Sovereign Financial Group Inc. lifted its holdings in American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after acquiring an additional 38 shares during the period. Legacy Financial Strategies LLC increased its position in shares of American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares during the last quarter. Concord Wealth Partners lifted its stake in shares of American Express by 10.5% in the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after purchasing an additional 40 shares during the period. Sawgrass Asset Management LLC grew its position in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares during the period. Finally, Godsey & Gibb Inc. grew its position in American Express by 3.5% during the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after buying an additional 41 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

AXP stock opened at $287.64 on Thursday. American Express has a 52 week low of $156.03 and a 52 week high of $296.83. The firm has a market capitalization of $202.63 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The company has a fifty day simple moving average of $270.01 and a two-hundred day simple moving average of $250.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last released its quarterly 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 during the quarter, compared to analyst estimates of $16.68 billion. During the same quarter last year, the business posted $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts anticipate that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. American Express’s dividend payout ratio is presently 20.60%.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and lifted their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. TD Cowen upped their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Evercore ISI lifted their price objective on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Finally, BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Four research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insiders Place Their Bets

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

American Express Company Profile

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.