Adero Partners LLC Has $1.34 Million Stock Position in American Express (NYSE:AXP)

Adero Partners LLC increased its stake in shares of American Express (NYSE:AXP) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,944 shares of the payment services company’s stock after buying an additional 74 shares during the quarter. Adero Partners LLC’s holdings in American Express were worth $1,341,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AXP. Nicolet Advisory Services LLC acquired a new stake in shares of American Express during the first quarter worth approximately $272,000. Edgestream Partners L.P. boosted its holdings in shares of American Express by 415.0% during the first quarter. Edgestream Partners L.P. now owns 15,317 shares of the payment services company’s stock worth $3,488,000 after purchasing an additional 12,343 shares during the period. Hillsdale Investment Management Inc. raised its position in American Express by 823.5% during the first quarter. Hillsdale Investment Management Inc. now owns 628 shares of the payment services company’s stock valued at $143,000 after acquiring an additional 560 shares in the last quarter. Trustmark National Bank Trust Department bought a new position in American Express during the first quarter valued at approximately $234,000. Finally, Bahl & Gaynor Inc. bought a new position in American Express during the first quarter valued at approximately $459,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Anre D. Williams sold 77,887 shares of the business’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 sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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 owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Trading Down 0.5 %

Shares of American Express stock opened at $286.87 on Friday. American Express has a 1 year low of $157.97 and a 1 year high of $296.83. 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 company’s fifty day simple moving average is $272.31 and its 200-day simple moving average is $251.20. The company has a market cap of $202.09 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.65 and a beta of 1.21.

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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. American Express’s dividend payout ratio is currently 20.60%.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent research reports. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, October 8th. Barclays raised their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Bank of America raised their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Wells Fargo & Company raised their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, 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. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $253.09.

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.