Princeton Global Asset Management LLC Has $692,000 Holdings in American Express (NYSE:AXP)

Princeton Global Asset Management LLC raised its position in American Express (NYSE:AXP) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,550 shares of the payment services company’s stock after purchasing an additional 181 shares during the quarter. Princeton Global Asset Management LLC’s holdings in American Express were worth $692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cetera Advisors LLC raised its holdings 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 last quarter. Empowered Funds LLC lifted its position in American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after buying an additional 6,329 shares in the last quarter. Sciencast Management LP acquired a new position in shares of American Express during the 1st quarter worth about $1,881,000. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after acquiring an additional 7,885 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of American Express by 49.0% in the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after acquiring an additional 91,760 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company raised their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Morgan Stanley increased their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. 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’s stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $253.09.

American Express Price Performance

Shares of American Express stock opened at $272.69 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $192.10 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. American Express has a twelve month low of $148.33 and a twelve month high of $286.36. The company has a 50-day simple moving average of $266.02 and a two-hundred day simple moving average of $247.45.

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 analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 earnings per share. Analysts forecast that American Express will post 13.41 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. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 20.60%.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s 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 transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were 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 approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

About American Express

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.