KCM Investment Advisors LLC Boosts Holdings in American Express (NYSE:AXP)

KCM Investment Advisors LLC grew its stake in American Express (NYSE:AXP) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,878 shares of the payment services company’s stock after buying an additional 108 shares during the quarter. KCM Investment Advisors LLC’s holdings in American Express were worth $3,221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Birchcreek Wealth Management LLC lifted its holdings in American Express by 5.4% in the third quarter. Birchcreek Wealth Management LLC now owns 1,772 shares of the payment services company’s stock valued at $481,000 after acquiring an additional 91 shares during the period. Empowered Funds LLC lifted its stake in shares of American Express by 2.0% in the 3rd quarter. Empowered Funds LLC now owns 14,291 shares of the payment services company’s stock valued at $3,876,000 after purchasing an additional 281 shares during the period. Empirical Finance LLC boosted its holdings in American Express by 1.7% during the third quarter. Empirical Finance LLC now owns 20,444 shares of the payment services company’s stock worth $5,544,000 after buying an additional 347 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in shares of American Express by 2.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 2,595 shares of the payment services company’s stock worth $704,000 after acquiring an additional 57 shares in the last quarter. Finally, Connable Office Inc. boosted its position in American Express by 0.4% during the third quarter. Connable Office Inc. now owns 12,606 shares of the payment services company’s stock worth $3,419,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Barclays lifted their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, TD Cowen raised their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Price Performance

American Express stock opened at $286.80 on Friday. The stock has a market capitalization of $202.04 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.65 and a beta of 1.21. 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 12-month low of $157.97 and a 12-month high of $296.83. The firm’s 50-day moving average is $272.31 and its two-hundred day moving average is $251.09.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business 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%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.30 EPS. Equities analysts predict that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is 20.60%.

Insider Buying and Selling at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated 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 $30,176,150.56. This represents a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % 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.

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.