Lindbrook Capital LLC Raises Stock Position in American Express (NYSE:AXP)

Lindbrook Capital LLC raised its stake in shares of American Express (NYSE:AXP) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,833 shares of the payment services company’s stock after buying an additional 65 shares during the period. Lindbrook Capital LLC’s holdings in American Express were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AXP. Price T Rowe Associates Inc. MD increased its position in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares during the last quarter. TD Asset Management Inc increased its position in shares of American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners lifted its stake in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the period. abrdn plc increased its holdings in American Express by 2.2% during the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after buying an additional 27,859 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in American Express by 2.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock worth $282,589,000 after buying an additional 23,487 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXP. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Wells Fargo & Company upped their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price objective 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. Barclays upped 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 report on Monday, October 21st. Finally, Morgan Stanley lifted their price target on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $253.09.

Insider Activity at American Express

In other news, insider Anre D. Williams sold 77,887 shares of American Express 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 completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

American Express Price Performance

Shares of NYSE:AXP opened at $287.60 on Friday. American Express has a twelve month low of $152.05 and a twelve month high of $296.83. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market cap of $202.60 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. The company’s 50 day moving average is $268.64 and its 200 day moving average is $249.32.

American Express (NYSE:AXP) last issued 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 firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company posted $3.30 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

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

About American Express

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.