Joel Isaacson & Co. LLC Has $2.67 Million Stake in American Express (NYSE:AXP)

Joel Isaacson & Co. LLC cut its holdings in American Express (NYSE:AXP) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,843 shares of the payment services company’s stock after selling 256 shares during the period. Joel Isaacson & Co. LLC’s holdings in American Express were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC raised its position in American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares during the period. Empowered Funds LLC boosted its stake in American Express by 102.9% during the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after acquiring an additional 6,329 shares in the last quarter. Sciencast Management LP bought a new stake in American Express during the first quarter worth about $1,881,000. Oliver Lagore Vanvalin Investment Group boosted its stake in American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after acquiring an additional 7,885 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in American Express by 15.5% during the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $267.23 on Friday. The stock has a market cap of $192.22 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $141.02 and a 12-month high of $286.36. The business has a 50 day moving average of $263.88 and a 200-day moving average of $245.39.

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

American Express Announces Dividend

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 paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.05%. American Express’s payout ratio is 23.06%.

Insider Activity at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Barclays raised their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $253.09.

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.