Concentric Wealth Management LLC Has $6.38 Million Stock Position in American Express (NYSE:AXP)

Concentric Wealth Management LLC lowered its position in American Express (NYSE:AXP) by 3.5% during the third quarter, HoldingsChannel.com reports. The firm owned 23,510 shares of the payment services company’s stock after selling 854 shares during the quarter. American Express makes up approximately 1.6% of Concentric Wealth Management LLC’s holdings, making the stock its 20th largest holding. Concentric Wealth Management LLC’s holdings in American Express were worth $6,376,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC lifted its stake in American Express by 8.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 61,694 shares of the payment services company’s stock valued at $14,047,000 after acquiring an additional 4,608 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in shares of American Express during the 1st quarter valued at $1,497,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of American Express by 3.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,952 shares of the payment services company’s stock valued at $4,771,000 after purchasing an additional 699 shares during the last quarter. Creekmur Asset Management LLC increased its position in American Express by 150.6% during the first quarter. Creekmur Asset Management LLC now owns 426 shares of the payment services company’s stock worth $97,000 after buying an additional 256 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in American Express by 62.0% during the first quarter. Tidal Investments LLC now owns 29,218 shares of the payment services company’s stock valued at $6,653,000 after buying an additional 11,184 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXP shares. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Barclays increased their price target on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Monness Crespi & Hardt raised 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. Finally, Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Stock Up 2.8 %

NYSE AXP opened at $301.30 on Monday. American Express has a 1-year low of $163.32 and a 1-year high of $301.92. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average is $276.08 and its two-hundred day moving average is $253.35. The company has a market capitalization of $212.25 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.72 and a beta of 1.21.

American Express (NYSE:AXP) last announced 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 firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 earnings per share. Equities analysts forecast that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.93%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio is currently 20.60%.

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.