American Express (NYSE:AXP) Stock Holdings Trimmed by Bank of Stockton

Bank of Stockton decreased its holdings in American Express (NYSE:AXP) by 11.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,969 shares of the payment services company’s stock after selling 1,206 shares during the quarter. American Express makes up 0.7% of Bank of Stockton’s portfolio, making the stock its 29th largest holding. Bank of Stockton’s holdings in American Express were worth $2,432,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. grew its position in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. BNP Paribas acquired a new stake in shares of American Express in the 1st quarter worth approximately $40,000. POM Investment Strategies LLC bought a new position in shares of American Express in the second quarter valued at approximately $42,000. Founders Capital Management acquired a new position in shares of American Express during the second quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express in the third quarter worth approximately $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 0.4 %

NYSE AXP traded up $1.13 during trading on Friday, reaching $271.11. The company’s stock had a trading volume of 791,131 shares, compared to its average volume of 2,922,429. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $195.01 billion, a PE ratio of 22.27, a PEG ratio of 1.50 and a beta of 1.21. American Express has a 1-year low of $141.02 and a 1-year high of $286.36. The business has a 50-day moving average price of $263.57 and a 200-day moving average price of $245.09.

American Express (NYSE:AXP) last released its quarterly 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. The business had revenue of $16.64 billion for 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%. American Express’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 EPS. On average, research analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity

In related 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 value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXP has been the topic of several research analyst reports. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lifted their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Morgan Stanley boosted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, The Goldman Sachs Group raised their target price 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. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.09.

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.