Impact Partnership Wealth LLC Trims Stock Holdings in American Express (NYSE:AXP)

Impact Partnership Wealth LLC lowered its position in shares of American Express (NYSE:AXP) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,335 shares of the payment services company’s stock after selling 92 shares during the quarter. Impact Partnership Wealth LLC’s holdings in American Express were worth $633,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Sovereign Financial Group Inc. boosted its position 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 buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC increased its stake in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after acquiring an additional 40 shares during the period. Sawgrass Asset Management LLC raised its holdings in shares of 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 worth $2,404,000 after purchasing an additional 41 shares during the last quarter. Godsey & Gibb Inc. lifted 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 purchasing an additional 41 shares during the period. Finally, Davis Investment Partners LLC boosted its holdings in American Express by 0.5% in the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock traded down $0.23 during mid-day trading on Thursday, reaching $271.00. The company’s stock had a trading volume of 128,102 shares, compared to its average volume of 2,916,452. The stock has a market cap of $194.93 billion, a PE ratio of 22.34, a P/E/G ratio of 1.50 and a beta of 1.21. The company’s 50 day moving average is $263.16 and its two-hundred day moving average is $244.92. American Express has a fifty-two week low of $141.02 and a fifty-two week high of $286.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 earnings per share. Equities research analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on AXP. Evercore ISI upped their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Monness Crespi & Hardt boosted their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Barclays raised their price target on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and an average target price of $244.58.

American Express 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.