American Express (NYSE:AXP) Shares Sold by Dover Advisors LLC

Dover Advisors LLC reduced its position in shares of American Express (NYSE:AXP) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,545 shares of the payment services company’s stock after selling 94 shares during the period. American Express makes up about 1.2% of Dover Advisors LLC’s investment portfolio, making the stock its 25th largest position. Dover Advisors LLC’s holdings in American Express were worth $2,046,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position 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 worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. TD Asset Management Inc boosted its position in American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after acquiring an additional 195,876 shares during the period. Boston Partners increased its holdings in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in American Express in the 1st quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB raised its holdings in shares of American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after acquiring an additional 224,079 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 0.3 %

Shares of American Express stock traded up $0.79 on Tuesday, hitting $277.31. The company had a trading volume of 2,262,434 shares, compared to its average volume of 2,905,650. The firm has a market capitalization of $199.47 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a twelve month low of $140.91 and a twelve month high of $281.42. The stock has a 50-day moving average of $257.46 and a 200-day moving average of $242.52.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. Research analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.01%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AXP. Barclays increased their price objective on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Evercore ISI boosted their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” 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 stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $242.33.

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.