West Oak Capital LLC Cuts Position in American Express (NYSE:AXP)

West Oak Capital LLC reduced its position in shares of American Express (NYSE:AXP) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,282 shares of the payment services company’s stock after selling 380 shares during the period. American Express comprises about 0.7% of West Oak Capital LLC’s holdings, making the stock its 17th largest holding. West Oak Capital LLC’s holdings in American Express were worth $3,873,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Apella Capital LLC acquired a new stake in shares of American Express during the first quarter worth about $204,000. Park Avenue Securities LLC lifted its holdings in American Express by 18.1% during the 1st quarter. Park Avenue Securities LLC now owns 16,834 shares of the payment services company’s stock worth $3,833,000 after buying an additional 2,578 shares in the last quarter. Aprio Wealth Management LLC purchased a new position in American Express in the 1st quarter valued at approximately $215,000. BTC Capital Management Inc. acquired a new position in shares of American Express in the first quarter worth $313,000. Finally, RFG Advisory LLC increased its position in shares of American Express by 1.1% during the first quarter. RFG Advisory LLC now owns 9,115 shares of the payment services company’s stock worth $2,075,000 after acquiring an additional 99 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 3.1 %

Shares of NYSE:AXP opened at $276.82 on Friday. American Express has a 1-year low of $140.91 and a 1-year high of $286.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $199.12 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21. The firm has a fifty day moving average price of $261.27 and a 200 day moving average price of $243.78.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 earnings per share. Sell-side analysts predict that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AXP shares. Morgan Stanley increased their price target on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Compass Point started coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $242.33.

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.