Forte Capital LLC ADV Has $1.06 Million Stock Position in American Express (NYSE:AXP)

Forte Capital LLC ADV raised its holdings in American Express (NYSE:AXP) by 105.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,914 shares of the payment services company’s stock after purchasing an additional 2,011 shares during the quarter. Forte Capital LLC ADV’s holdings in American Express were worth $1,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AXP. Sovereign Financial Group Inc. grew its position in 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 acquiring an additional 38 shares during the last quarter. Legacy Financial Strategies LLC boosted its stake in shares of American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares in the last quarter. Concord Wealth Partners grew its holdings 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 valued at $114,000 after purchasing an additional 40 shares during the last quarter. Sawgrass Asset Management LLC lifted its stake in American Express by 0.4% in 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 last quarter. Finally, Godsey & Gibb Inc. lifted its stake in American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

American Express stock opened at $295.12 on Thursday. The stock has a market capitalization of $207.90 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 52-week low of $152.05 and a 52-week high of $296.83. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s 50 day moving average price is $267.52 and its two-hundred day moving average price is $248.67.

American Express (NYSE:AXP) last released 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 for the quarter, compared to the consensus estimate 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 earned $3.30 EPS. On average, equities analysts predict that American Express will post 13.41 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.95%. American Express’s dividend payout ratio is presently 20.60%.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on Tuesday, October 29th. The shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Evercore ISI upped their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Wells Fargo & Company increased their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Monness Crespi & Hardt boosted their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.