Raab & Moskowitz Asset Management LLC Has $2.01 Million Position in American Express (NYSE:AXP)

Raab & Moskowitz Asset Management LLC lessened its stake in shares of American Express (NYSE:AXP) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,394 shares of the payment services company’s stock after selling 72 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in American Express were worth $2,005,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Auxier Asset Management grew its stake in American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after buying an additional 35 shares during the last quarter. Sovereign Financial Group Inc. grew its position in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares during the last quarter. Legacy Financial Strategies LLC increased its stake in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the period. Concord Wealth Partners lifted its position in shares of American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after purchasing an additional 40 shares during the last quarter. Finally, Sawgrass Asset Management LLC boosted its stake in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $303.99 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a market cap of $214.15 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. American Express has a 12 month low of $167.57 and a 12 month high of $307.82. The company’s 50-day moving average price is $283.49 and its two-hundred day moving average price is $257.74.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 earnings per share. On average, equities analysts anticipate that American Express will post 13.39 EPS for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on AXP shares. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and increased their price target for the company from $268.00 to $286.00 in a report on Monday, October 7th. Evercore ISI boosted their price objective on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Finally, Bank of America increased their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four research 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’s stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $253.09.

Insider Activity

In related news, 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 completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,998 shares of company stock worth $26,423,439. 0.12% of the stock is owned by corporate 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.