Addison Advisors LLC Sells 79 Shares of American Express (NYSE:AXP)

Addison Advisors LLC lessened its position in shares of American Express (NYSE:AXP) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 622 shares of the payment services company’s stock after selling 79 shares during the period. Addison Advisors LLC’s holdings in American Express were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Bleakley Financial Group LLC lifted its position in shares of American Express by 4.2% during the 1st quarter. Bleakley Financial Group LLC now owns 12,887 shares of the payment services company’s stock valued at $2,934,000 after acquiring an additional 525 shares during the period. Cozad Asset Management Inc. raised its holdings in shares of American Express by 31.3% during the first quarter. Cozad Asset Management Inc. now owns 2,571 shares of the payment services company’s stock valued at $585,000 after purchasing an additional 613 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of American Express by 14.2% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,272 shares of the payment services company’s stock worth $517,000 after purchasing an additional 282 shares in the last quarter. Entropy Technologies LP increased its position in American Express by 143.0% in the 1st quarter. Entropy Technologies LP now owns 12,192 shares of the payment services company’s stock valued at $2,776,000 after buying an additional 7,174 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in American Express by 140.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 816,322 shares of the payment services company’s stock valued at $185,869,000 after buying an additional 476,543 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $293.05 on Tuesday. The firm’s 50 day moving average is $268.64 and its 200 day moving average is $249.46. The stock has a market capitalization of $206.44 billion, a P/E ratio of 21.56, a PEG ratio of 1.56 and a beta of 1.21. American Express has a 12 month low of $153.50 and a 12 month high of $296.83. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period last year, the company earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of the company’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 transaction of $21,049,740.62. Following the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AXP shares. HSBC cut American Express from a “buy” rating to a “hold” rating and raised their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Morgan Stanley upped their price objective on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, BTIG Research lowered 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. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $253.09.

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.