American Express (NYSE:AXP) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC cut its position in shares of American Express (NYSE:AXP) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,936 shares of the payment services company’s stock after selling 135 shares during the period. Woodmont Investment Counsel LLC’s holdings in American Express were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. raised its position in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. POM Investment Strategies LLC acquired a new position in shares of American Express during the second quarter valued at $42,000. Founders Capital Management bought a new position in shares of American Express during the second quarter worth about $46,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express in the 3rd quarter worth about $46,000. Finally, Beacon Capital Management LLC lifted its position in American Express by 162.1% in the 1st quarter. Beacon Capital Management LLC now owns 228 shares of the payment services company’s stock valued at $52,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $295.12 on Thursday. American Express has a one year low of $152.05 and a one year high of $296.83. The firm has a 50-day moving average of $267.52 and a two-hundred day moving average of $248.67. The firm has a market capitalization of $207.90 billion, a PE ratio of 21.72, a P/E/G ratio of 1.48 and a beta of 1.21. 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 issued its quarterly 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. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that American Express will post 13.41 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.95%. American Express’s dividend payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXP shares. Royal Bank of Canada raised their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Finally, HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and upped their price objective for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $253.09.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s 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 transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 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 transaction of $21,049,740.62. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. 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.

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.