First National Trust Co Cuts Stake in American Express (NYSE:AXP)

First National Trust Co trimmed its stake in American Express (NYSE:AXP) by 2.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,977 shares of the payment services company’s stock after selling 267 shares during the quarter. First National Trust Co’s holdings in American Express were worth $2,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP grew its stake in shares of American Express by 4.2% during the 3rd quarter. GSA Capital Partners LLP now owns 2,655 shares of the payment services company’s stock valued at $720,000 after buying an additional 108 shares during the period. Harbour Investments Inc. grew its position in American Express by 15.4% during the third quarter. Harbour Investments Inc. now owns 5,302 shares of the payment services company’s stock valued at $1,438,000 after acquiring an additional 708 shares during the period. Apollon Wealth Management LLC increased its stake in American Express by 3.8% during the third quarter. Apollon Wealth Management LLC now owns 12,903 shares of the payment services company’s stock worth $3,499,000 after acquiring an additional 467 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of American Express by 39.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,231 shares of the payment services company’s stock worth $334,000 after purchasing an additional 347 shares during the period. Finally, Laffer Tengler Investments Inc. raised its holdings in shares of American Express by 1.0% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 49,702 shares of the payment services company’s stock worth $13,479,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 1.5 %

AXP stock opened at $288.60 on Wednesday. The firm has a fifty day moving average price of $269.33 and a two-hundred day moving average price of $249.86. 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 $153.50 and a 1-year high of $296.83. The firm has a market cap of $203.30 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.56 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share 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 firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts predict that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. American Express’s dividend payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AXP. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. TD Cowen raised their target price on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America lifted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Four equities 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $253.09.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other American Express 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 value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, 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 document filed with the Securities & Exchange Commission, 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 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 of the company’s stock, valued at approximately $30,176,150.56. This 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 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.