Hi Line Capital Management LLC Sells 27,285 Shares of American Express (NYSE:AXP)

Hi Line Capital Management LLC reduced its holdings in shares of American Express (NYSE:AXP) by 55.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 21,517 shares of the payment services company’s stock after selling 27,285 shares during the period. American Express comprises 2.9% of Hi Line Capital Management LLC’s portfolio, making the stock its 15th biggest position. Hi Line Capital Management LLC’s holdings in American Express were worth $5,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. increased its holdings in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express during the 3rd quarter worth $46,000. BNP Paribas purchased a new position in American Express during the 1st quarter worth $40,000. POM Investment Strategies LLC purchased a new position in American Express during the 2nd quarter worth $42,000. Finally, Founders Capital Management purchased a new position in American Express during the 2nd quarter worth $46,000. 84.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AXP shares. Jefferies Financial Group lifted their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. 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 report on Tuesday, October 8th. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $268.00 to $286.00 in a report on Monday, October 7th. Four 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $253.09.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 77,887 shares of the firm’s 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 owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $270.13 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1 year low of $143.07 and a 1 year high of $286.36. The firm has a market capitalization of $190.29 billion, a PE ratio of 19.88, a P/E/G ratio of 1.49 and a beta of 1.21. The business’s 50 day moving average price is $265.59 and its 200-day moving average price is $246.87.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.04%. American Express’s payout ratio is 20.60%.

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.