Garrison Asset Management LLC Sells 80 Shares of American Express (NYSE:AXP)

Garrison Asset Management LLC decreased its position in American Express (NYSE:AXP) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851 shares of the payment services company’s stock after selling 80 shares during the period. Garrison Asset Management LLC’s holdings in American Express were worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Palisades Hudson Asset Management L.P. boosted its holdings in shares of American Express by 22.5% during the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 2,721 shares of the payment services company’s stock valued at $738,000 after acquiring an additional 500 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in American Express by 53.2% in the third quarter. QRG Capital Management Inc. now owns 115,762 shares of the payment services company’s stock worth $31,395,000 after purchasing an additional 40,195 shares during the last quarter. Asset Management One Co. Ltd. grew its position in American Express by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 321,886 shares of the payment services company’s stock worth $87,295,000 after purchasing an additional 7,611 shares during the period. National Pension Service raised its stake in American Express by 15.9% during the 3rd quarter. National Pension Service now owns 1,153,099 shares of the payment services company’s stock valued at $312,720,000 after buying an additional 158,495 shares during the last quarter. Finally, Silicon Valley Capital Partners lifted its holdings in shares of American Express by 1.9% during the 3rd quarter. Silicon Valley Capital Partners now owns 40,494 shares of the payment services company’s stock valued at $10,982,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on 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 directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. 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 business’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. 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 owned by company insiders.

American Express Trading Down 0.5 %

Shares of NYSE AXP traded down $1.23 during trading hours on Monday, hitting $271.46. 130,068 shares of the company traded hands, compared to its average volume of 2,902,991. The company’s 50 day moving average price is $266.02 and its 200 day moving average price is $247.66. American Express has a 12 month low of $151.51 and a 12 month high of $286.36. The stock has a market capitalization of $191.23 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for 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%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 earnings per share. On average, equities research analysts anticipate that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio is currently 20.60%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and increased their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. TD Cowen lifted their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Monness Crespi & Hardt increased their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Barclays lifted their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $253.09.

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.