American Express (NYSE:AXP) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC lessened its position in American Express (NYSE:AXP) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 5,324 shares of the payment services company’s stock after selling 104 shares during the quarter. American Express makes up approximately 1.3% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. MeadowBrook Investment Advisors LLC’s holdings in American Express were worth $1,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kennebec Savings Bank acquired a new position in American Express during the third quarter valued at $29,000. DHJJ Financial Advisors Ltd. increased its position in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring 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 about $42,000. Founders Capital Management bought a new stake in shares of American Express during the second quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in American Express in the 3rd quarter valued at $46,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 0.7 %

NYSE AXP traded up $2.01 during mid-day trading on Thursday, reaching $289.65. The stock had a trading volume of 189,962 shares, compared to its average volume of 2,895,666. 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 cap of $204.04 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The company has a fifty day moving average price of $270.73 and a 200 day moving average price of $250.49. American Express has a 1 year low of $157.00 and a 1 year high of $296.83.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The firm 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%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 EPS. On average, research analysts expect that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed 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. 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 0.97%. American Express’s payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXP. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research report on Tuesday, October 8th. Barclays upped their price target 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. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley upped their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $253.09.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on 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 owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anre D. Williams sold 77,887 shares of the business’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 in the company, valued at $30,176,150.56. 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 currently owned by company insiders.

American Express 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.