Rebalance LLC Trims Stock Position in American Express (NYSE:AXP)

Rebalance LLC reduced its position in shares of American Express (NYSE:AXP) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,585 shares of the payment services company’s stock after selling 273 shares during the period. Rebalance LLC’s holdings in American Express were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new stake in American Express in the first quarter valued at approximately $38,000. DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares during the last quarter. BNP Paribas purchased a new position in shares of American Express in the 1st quarter valued at approximately $40,000. POM Investment Strategies LLC acquired a new position in American Express in the 2nd quarter valued at $42,000. Finally, Founders Capital Management acquired a new stake in American Express in the second quarter valued at about $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 0.1 %

Shares of NYSE AXP traded down $0.35 during mid-day trading on Wednesday, reaching $272.05. The company had a trading volume of 653,701 shares, compared to its average volume of 2,922,078. American Express has a 12-month low of $141.02 and a 12-month high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $195.69 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.50 and a beta of 1.21. The stock has a fifty day moving average of $262.61 and a two-hundred day moving average of $244.73.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping 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 32.94% and a net margin of 15.53%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 EPS. As a group, equities research analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group boosted their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $244.58.

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.