Harbour Investments Inc. Buys 708 Shares of American Express (NYSE:AXP)

Harbour Investments Inc. boosted its stake in American Express (NYSE:AXP) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,302 shares of the payment services company’s stock after purchasing an additional 708 shares during the period. Harbour Investments Inc.’s holdings in American Express were worth $1,438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sovereign Financial Group Inc. lifted its holdings in American Express by 2.7% during the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC boosted its position in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after acquiring an additional 40 shares during the period. Concord Wealth Partners grew its stake in American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 40 shares in the last quarter. Sawgrass Asset Management LLC increased its holdings in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares during the period. Finally, Godsey & Gibb Inc. lifted its stake in American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Monness Crespi & Hardt lifted their price target on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, 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. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Price Performance

Shares of AXP stock opened at $287.64 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a fifty-two week low of $156.03 and a fifty-two week high of $296.83. The firm has a market cap of $202.63 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.65 and a beta of 1.21. The business’s 50 day moving average price is $270.01 and its 200-day moving average price is $250.23.

American Express (NYSE:AXP) last released 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 business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the business posted $3.30 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express’s 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.