Glenmede Trust Co. NA Has $89.41 Million Position in American Express (NYSE:AXP)

Glenmede Trust Co. NA decreased its position in shares of American Express (NYSE:AXP) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 329,663 shares of the payment services company’s stock after selling 3,344 shares during the quarter. Glenmede Trust Co. NA’s holdings in American Express were worth $89,405,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. XML Financial LLC increased its position in American Express by 9.8% in the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after purchasing an additional 101 shares during the period. Cetera Advisors LLC raised its stake in shares of American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after buying an additional 21,508 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in American Express by 2,196.4% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after buying an additional 7,885 shares during the period. Addison Advisors LLC boosted its stake in American Express by 41.3% in the second quarter. Addison Advisors LLC now owns 701 shares of the payment services company’s stock valued at $162,000 after acquiring an additional 205 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in American Express by 219.4% during the 1st quarter. Cetera Investment Advisers now owns 164,861 shares of the payment services company’s stock worth $37,537,000 after acquiring an additional 113,249 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 41.09 % 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 Trading Up 0.1 %

Shares of NYSE:AXP opened at $305.60 on Wednesday. The company’s 50-day moving average price is $277.77 and its two-hundred day moving average price is $254.26. American Express has a one year low of $163.32 and a one year high of $306.97. 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 market capitalization of $215.28 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data 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. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. On average, equities analysts forecast that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.92%. American Express’s payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AXP shares. The Goldman Sachs Group increased their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. TD Cowen raised 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. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Finally, Bank of America increased their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.