Hartline Investment Corp Purchases 3,242 Shares of American Express (NYSE:AXP)

Hartline Investment Corp lifted its position in shares of American Express (NYSE:AXP) by 29.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,086 shares of the payment services company’s stock after acquiring an additional 3,242 shares during the period. Hartline Investment Corp’s holdings in American Express were worth $3,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. International Assets Investment Management LLC grew its position in shares of American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after buying an additional 906,353 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares during the period. Pathway Financial Advisers LLC grew its holdings in American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 662,382 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of American Express during the first quarter valued at approximately $114,990,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

NYSE AXP opened at $288.60 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $203.30 billion, a P/E ratio of 21.24, a PEG ratio of 1.68 and a beta of 1.21. The company has a 50-day moving average price of $270.01 and a 200-day moving average price of $250.23. American Express has a 52 week low of $153.50 and a 52 week high of $296.83.

American Express (NYSE:AXP) last released its quarterly earnings results 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 business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period last year, the firm earned $3.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

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

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on 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 directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated 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 directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was 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 available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated 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 of the company’s stock, valued at $29,724,067.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. TD Cowen upped their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada lifted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Express 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.