ASB Consultores LLC Sells 98 Shares of American Express (NYSE:AXP)

ASB Consultores LLC cut its holdings in shares of American Express (NYSE:AXP) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,729 shares of the payment services company’s stock after selling 98 shares during the quarter. ASB Consultores LLC’s holdings in American Express were worth $740,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in American Express during the 3rd quarter valued at approximately $4,095,000. Hazlett Burt & Watson Inc. grew its holdings in American Express by 6.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,153 shares of the payment services company’s stock valued at $584,000 after buying an additional 127 shares in the last quarter. Red Cedar Investment Management LLC raised its position in shares of American Express by 142.9% during the third quarter. Red Cedar Investment Management LLC now owns 6,836 shares of the payment services company’s stock valued at $1,854,000 after buying an additional 4,022 shares during the last quarter. TKG Advisors LLC lifted its holdings in shares of American Express by 114.7% in the third quarter. TKG Advisors LLC now owns 17,897 shares of the payment services company’s stock worth $4,854,000 after buying an additional 9,560 shares in the last quarter. Finally, Palisades Hudson Asset Management L.P. boosted its position in shares of American Express by 22.5% during the third quarter. Palisades Hudson Asset Management L.P. now owns 2,721 shares of the payment services company’s stock worth $738,000 after acquiring an additional 500 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Down 0.9 %

Shares of AXP opened at $270.19 on Tuesday. The firm has a market capitalization of $190.34 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1-year low of $151.51 and a 1-year high of $286.36. The company has a 50-day moving average of $266.34 and a 200 day moving average of $248.03.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm posted $3.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that American Express will post 13.41 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is 20.60%.

Analyst Ratings Changes

Several analysts have commented on AXP shares. 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. TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods increased their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Barclays boosted their price target on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $253.09.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $30,176,150.56. This represents 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. In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated 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 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 SEC, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.