American Express (NYSE:AXP) Stock Position Boosted by DT Investment Partners LLC

DT Investment Partners LLC raised its stake in shares of American Express (NYSE:AXP) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,475 shares of the payment services company’s stock after buying an additional 78 shares during the period. DT Investment Partners LLC’s holdings in American Express were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sovereign Financial Group Inc. raised its holdings in American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC increased its position in shares of American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares during the period. Sawgrass Asset Management LLC raised its stake in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after buying an additional 41 shares in the last quarter. Finally, Davis Investment Partners LLC lifted its holdings in shares of American Express by 0.5% in the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after buying an additional 42 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Monness Crespi & Hardt increased their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research report on Tuesday, October 8th. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and increased their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.09.

American Express Stock Down 0.5 %

American Express stock opened at $269.96 on Friday. The firm’s 50 day moving average price is $263.16 and its two-hundred day moving average price is $244.92. The firm has a market cap of $194.18 billion, a PE ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

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

American Express Announces Dividend

The company also recently declared 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 is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. American Express’s payout ratio is 23.06%.

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.