Cable Hill Partners LLC Has $865,000 Stock Holdings in American Express Company (NYSE:AXP)

Cable Hill Partners LLC trimmed its stake in American Express Company (NYSE:AXP) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,238 shares of the payment services company’s stock after selling 393 shares during the quarter. Cable Hill Partners LLC’s holdings in American Express were worth $865,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of American Express in the fourth quarter valued at $29,000. MorganRosel Wealth Management LLC bought a new position in shares of American Express in the first quarter valued at $29,000. Sellwood Investment Partners LLC bought a new position in shares of American Express in the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express in the fourth quarter valued at $33,000. Finally, Nexus Investment Management ULC bought a new position in shares of American Express in the first quarter valued at $34,000. 84.33% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider owned 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider directly owned 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $310.67 on Wednesday. The firm has a market cap of $217.65 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 1.56 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The firm’s 50-day simple moving average is $302.35 and its two-hundred day simple moving average is $290.77.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the previous year, the firm posted $3.33 earnings per share. As a group, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, July 3rd. American Express’s dividend payout ratio is 22.91%.

Analyst Ratings Changes

A number of research firms have weighed in on AXP. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $360.00 to $371.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Morgan Stanley raised their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and lowered their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Finally, Barclays increased their target price on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $307.68.

American Express Company 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.