American Express (NYSE:AXP) Position Lessened by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd reduced its stake in shares of American Express (NYSE:AXP) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 181,754 shares of the payment services company’s stock after selling 16,099 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in American Express were worth $49,148,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AXP. Riverview Trust Co bought a new position in shares of American Express in the first quarter worth about $38,000. DHJJ Financial Advisors Ltd. raised its position in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. BNP Paribas acquired a new position in shares of American Express during the 1st quarter worth about $40,000. POM Investment Strategies LLC acquired a new position in shares of American Express during the 2nd quarter worth about $42,000. Finally, Founders Capital Management acquired a new position in shares of American Express during the 2nd quarter worth about $46,000. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

American Express stock traded down $6.86 during mid-day trading on Monday, hitting $269.93. The company’s stock had a trading volume of 2,358,679 shares, compared to its average volume of 2,926,971. The stock’s fifty day moving average price is $261.27 and its two-hundred day moving average price is $244.02. American Express has a twelve month low of $140.91 and a twelve month high of $286.36. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $194.16 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.50 and a beta of 1.21.

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 business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS. Research analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The firm 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. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.04%. American Express’s dividend payout ratio is currently 23.06%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXP. Royal Bank of Canada upped their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Four 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $244.58.

About American Express

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.