NorthRock Partners LLC Sells 875 Shares of American Express (NYSE:AXP)

NorthRock Partners LLC cut its holdings in shares of American Express (NYSE:AXP) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,521 shares of the payment services company’s stock after selling 875 shares during the period. NorthRock Partners LLC’s holdings in American Express were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in American Express by 8.5% during the 1st 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 purchasing an additional 662,382 shares in the last quarter. TD Asset Management Inc increased its position in shares of American Express by 8.2% during the first 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 in the last quarter. Boston Partners raised its holdings in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after acquiring an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in American Express in the 1st quarter valued at $433,709,000. Finally, abrdn plc increased its holdings in American Express by 2.2% during the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock worth $343,437,000 after purchasing an additional 27,859 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the business’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 transaction of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade 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 accessible through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

American Express Stock Performance

Shares of NYSE:AXP traded up $4.37 during trading on Tuesday, hitting $274.56. 239,157 shares of the company were exchanged, compared to its average volume of 2,899,020. The company has a market cap of $193.41 billion, a PE ratio of 19.88, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 52-week low of $151.51 and a 52-week high of $286.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a 50 day moving average of $266.34 and a 200 day moving average of $248.03.

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, topping 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 firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that American Express will post 13.41 EPS for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.60%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research reports. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Keefe, Bruyette & Woods upped their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada boosted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Finally, TD Cowen boosted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $253.09.

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.