Graypoint LLC Grows Position in American Express (NYSE:AXP)

Graypoint LLC boosted its stake in shares of American Express (NYSE:AXP) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,100 shares of the payment services company’s stock after purchasing an additional 321 shares during the period. Graypoint LLC’s holdings in American Express were worth $1,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AXP. International Assets Investment Management LLC lifted its position in shares of American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after acquiring an additional 681,304 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of American Express in the first quarter valued at about $114,990,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express 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 transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 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. 0.11% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of AXP stock opened at $286.82 on Friday. The firm has a market capitalization of $202.05 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. 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 business has a fifty day moving average of $267.52 and a 200 day moving average of $248.67. American Express has a 1 year low of $152.05 and a 1 year high of $296.83.

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

American Express Dividend Announcement

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. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. American Express’s dividend payout ratio (DPR) is 20.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXP. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Bank of America lifted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. BTIG Research cut 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. Finally, Morgan Stanley lifted their target price on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.