Cambridge Advisors Inc. Decreases Holdings in American Express (NYSE:AXP)

Cambridge Advisors Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,910 shares of the payment services company’s stock after selling 55 shares during the period. Cambridge Advisors Inc.’s holdings in American Express were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Express during the 3rd quarter worth about $46,000. Jackson Wealth Management LLC purchased a new stake in shares of American Express in the 3rd quarter valued at about $2,279,000. Greystone Financial Group LLC lifted its holdings in shares of American Express by 7.9% in the 3rd quarter. Greystone Financial Group LLC now owns 49,396 shares of the payment services company’s stock valued at $13,396,000 after purchasing an additional 3,611 shares during the last quarter. Romano Brothers AND Company purchased a new stake in shares of American Express in the 3rd quarter valued at about $217,000. Finally, Great Lakes Retirement Inc. lifted its holdings in shares of American Express by 1.7% in the 3rd quarter. Great Lakes Retirement Inc. now owns 10,627 shares of the payment services company’s stock valued at $2,882,000 after purchasing an additional 178 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.

American Express Stock Performance

AXP opened at $269.96 on Friday. The stock has a market cap of $194.18 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50 day simple moving average is $263.16 and its 200 day simple moving average is $244.92. American Express has a 1-year low of $141.02 and a 1-year high of $286.36.

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 analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. As a group, equities analysts anticipate that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AXP shares. The Goldman Sachs Group boosted their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. TD Cowen boosted their target price on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday. Finally, Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price 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.