Everett Harris & Co. CA Has $1.94 Million Stock Position in American Express (NYSE:AXP)

Everett Harris & Co. CA cut its position in American Express (NYSE:AXP) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,138 shares of the payment services company’s stock after selling 50 shares during the period. Everett Harris & Co. CA’s holdings in American Express were worth $1,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in shares of American Express by 5.0% during the third quarter. Commonwealth Equity Services LLC now owns 312,804 shares of the payment services company’s stock valued at $84,832,000 after acquiring an additional 15,029 shares in the last quarter. Legacy Financial Strategies LLC grew its position in American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares during the period. Raymond James & Associates increased its stake in American Express by 9.5% during the 3rd quarter. Raymond James & Associates now owns 738,586 shares of the payment services company’s stock valued at $200,305,000 after purchasing an additional 64,012 shares in the last quarter. Blue Trust Inc. raised its holdings in American Express by 46.4% during the third quarter. Blue Trust Inc. now owns 7,897 shares of the payment services company’s stock worth $2,142,000 after buying an additional 2,502 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its stake in shares of American Express by 58.7% in the third quarter. Moss Adams Wealth Advisors LLC now owns 1,922 shares of the payment services company’s stock valued at $521,000 after buying an additional 711 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

NYSE AXP opened at $276.79 on Friday. The company has a market cap of $199.10 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. 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 firm’s 50-day simple moving average is $261.27 and its two-hundred day simple moving average is $243.90. American Express has a 52 week low of $140.91 and a 52 week high of $286.36.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.68 billion. During the same period last year, the firm earned $3.30 EPS. American Express’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The business 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AXP shares. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Barclays raised their target price on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. HSBC downgraded American Express from a “buy” rating to a “hold” rating and upped their price target for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Bank of America upped their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.