Webster Bank N. A. Sells 880 Shares of American Express (NYSE:AXP)

Webster Bank N. A. lessened its stake in American Express (NYSE:AXP) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,781 shares of the payment services company’s stock after selling 880 shares during the period. Webster Bank N. A.’s holdings in American Express were worth $3,466,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter valued at about $25,000. Game Plan Financial Advisors LLC boosted its holdings in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Creekmur Asset Management LLC bought a new position in American Express in the fourth quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new position in American Express in the fourth quarter worth approximately $37,000. Finally, Riverview Trust Co bought a new position in American Express in the first quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP traded up $5.69 during trading hours on Friday, hitting $276.16. 1,723,286 shares of the company’s stock traded hands, compared to its average volume of 2,916,553. The firm has a market cap of $196.32 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $277.11. The business’s fifty day simple moving average is $256.44 and its two-hundred day simple moving average is $242.07. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $2.89 earnings per share. On average, research analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given 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 yield of 1.01%. American Express’s payout ratio is 20.90%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Monness Crespi & Hardt increased their price target on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. HSBC downgraded American Express from a “buy” rating to a “hold” rating and increased their price objective for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Jefferies Financial Group increased their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Evercore ISI increased their price target on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $239.96.

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.