American Express (NYSE:AXP) Shares Sold by First Heartland Consultants Inc.

First Heartland Consultants Inc. cut its position in American Express (NYSE:AXP) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 849 shares of the payment services company’s stock after selling 37 shares during the period. First Heartland Consultants Inc.’s holdings in American Express were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Kennebec Savings Bank purchased a new position in American Express during the third quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express in the third quarter valued at approximately $46,000. Capital Performance Advisors LLP acquired a new stake in American Express during the third quarter worth $48,000. Finally, POM Investment Strategies LLC acquired a new stake in American Express during the second quarter worth $42,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE:AXP opened at $287.64 on Thursday. The stock has a market cap of $202.63 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. 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 $270.01 and its 200-day moving average is $250.23. American Express has a 1-year low of $156.03 and a 1-year high of $296.83.

American Express (NYSE:AXP) last announced its 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 return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 earnings per share. Equities research analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AXP. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group boosted their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. HSBC cut American Express from a “buy” rating to a “hold” rating and boosted their price target for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $253.09.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

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.