Cetera Trust Company N.A Has $884,000 Stake in American Express (NYSE:AXP)

Cetera Trust Company N.A cut its holdings in shares of American Express (NYSE:AXP) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,260 shares of the payment services company’s stock after selling 75 shares during the quarter. Cetera Trust Company N.A’s holdings in American Express were worth $884,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cetera Advisors LLC raised its position in shares of American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares during the period. Empowered Funds LLC raised its holdings in American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after acquiring an additional 6,329 shares during the period. Sciencast Management LP acquired a new stake in American Express during the first quarter worth approximately $1,881,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after acquiring an additional 7,885 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in shares of American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP traded up $0.08 during midday trading on Tuesday, reaching $270.82. 716,854 shares of the company were exchanged, compared to its average volume of 2,925,155. The stock’s 50-day moving average price is $261.94 and its 200-day moving average price is $244.38. The stock has a market cap of $194.80 billion, a P/E ratio of 22.30, a PEG ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a one year low of $140.91 and a one year high of $286.36.

American Express (NYSE:AXP) last posted its 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 firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $3.30 earnings per share. On average, sell-side analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal 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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research reports. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Monness Crespi & Hardt raised their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, Barclays raised their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, fifteen 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 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.