King Luther Capital Management Corp Has $180.02 Million Stake in American Express (NYSE:AXP)

King Luther Capital Management Corp decreased its position in shares of American Express (NYSE:AXP) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 663,791 shares of the payment services company’s stock after selling 1,121 shares during the period. King Luther Capital Management Corp owned about 0.09% of American Express worth $180,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AXP. International Assets Investment Management LLC increased its holdings in shares of American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after purchasing an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after purchasing an additional 681,304 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after purchasing an additional 486,755 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.7 %

NYSE AXP opened at $287.65 on Thursday. The company has a market cap of $202.64 billion, a PE ratio of 21.17, a PEG ratio of 1.63 and a beta of 1.21. American Express has a 12 month low of $161.73 and a 12 month high of $296.83. The stock has a 50 day moving average of $274.48 and a 200-day moving average of $252.35. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the firm posted $3.30 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that American Express will post 13.47 EPS for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price objective 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. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and raised their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Finally, Evercore ISI lifted their price target on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $253.09.

Insider Buying and Selling

In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.11% 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.