US Bancorp DE Grows Stock Position in American Express (NYSE:AXP)

US Bancorp DE increased its position in shares of American Express (NYSE:AXP) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,420 shares of the payment services company’s stock after purchasing an additional 6,456 shares during the quarter. US Bancorp DE owned approximately 0.06% of American Express worth $122,154,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its position in shares of American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after buying an additional 21,508 shares during the last quarter. Empowered Funds LLC raised its holdings in American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after acquiring an additional 6,329 shares during the last quarter. Sciencast Management LP purchased a new position in American Express in the 1st quarter worth approximately $1,881,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of American Express by 2,196.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after purchasing an additional 7,885 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of American Express by 49.0% in the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after purchasing an additional 91,760 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 1.8 %

NYSE AXP traded down $4.84 during trading hours on Thursday, hitting $269.24. 345,574 shares of the company were exchanged, compared to its average volume of 2,908,668. The company has a 50 day moving average of $265.14 and a two-hundred day moving average of $246.71. 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 has a market cap of $189.66 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.50 and a beta of 1.21. American Express has a 52-week low of $143.07 and a 52-week high of $286.36.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating 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 firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company earned $3.30 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AXP. Barclays lifted their price objective on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI boosted their price target 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. Bank of America raised their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Compass Point started coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. 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 investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $253.09.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by 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.