Catalyst Financial Partners LLC Raises Stock Position in American Express (NYSE:AXP)

Catalyst Financial Partners LLC raised its stake in shares of American Express (NYSE:AXP) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,484 shares of the payment services company’s stock after purchasing an additional 181 shares during the quarter. Catalyst Financial Partners LLC’s holdings in American Express were worth $674,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC grew its position in shares of American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after buying an additional 21,508 shares during the period. Empowered Funds LLC grew its position in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after buying an additional 6,329 shares during the period. Sciencast Management LP purchased a new stake in shares of American Express in the 1st quarter worth about $1,881,000. Oliver Lagore Vanvalin Investment Group grew its position in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after buying an additional 7,885 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of American Express by 49.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after buying an additional 91,760 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE:AXP opened at $274.14 on Thursday. The firm’s 50 day moving average price is $265.14 and its 200-day moving average price is $246.71. American Express has a twelve month low of $143.07 and a twelve month high of $286.36. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $193.12 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the business earned $3.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 yield of 1.02%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.60%.

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’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 transaction of $21,049,740.62. Following the sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, October 8th. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and increased their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Bank of America increased their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.09.

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.