American Express (NYSE:AXP) Stock Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in American Express (NYSE:AXP) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,076,530 shares of the payment services company’s stock after selling 4,333 shares during the period. PNC Financial Services Group Inc.’s holdings in American Express were worth $291,955,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after purchasing an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after buying an additional 768,301 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of American Express by 59,816.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after buying an additional 681,304 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of American Express by 71.9% during the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after acquiring an additional 486,755 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on 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 of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, 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 disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of NYSE AXP opened at $285.54 on Tuesday. 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 one year low of $161.73 and a one year high of $296.83. The business’s 50-day moving average price is $273.01 and its two-hundred day moving average price is $251.72. The company has a market capitalization of $201.15 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.63 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 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion during 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. Analysts anticipate that American Express will post 13.47 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. Shareholders of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AXP shares. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Evercore ISI lifted their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Monness Crespi & Hardt lifted their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Barclays increased their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.09.

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.