American Express (NYSE:AXP) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its position in American Express (NYSE:AXP) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,641 shares of the payment services company’s stock after selling 73 shares during the quarter. Means Investment CO. Inc.’s holdings in American Express were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC grew its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of American Express during the 1st quarter worth about $38,000. DHJJ Financial Advisors Ltd. boosted its holdings in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. BNP Paribas purchased a new position in American Express in the first quarter valued at approximately $40,000. Finally, POM Investment Strategies LLC purchased a new stake in shares of American Express during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $276.79 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $140.91 and a one year high of $286.36. The firm has a market capitalization of $199.10 billion, a P/E ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21. The company’s fifty day moving average is $261.27 and its two-hundred day moving average is $243.90.

American Express (NYSE:AXP) last released its quarterly earnings data 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 firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research report on Tuesday, October 8th. Barclays upped their price target on shares of American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price target 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. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $242.33.

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.