American Express (NYSE:AXP) is Douglas Lane & Associates LLC’s 6th Largest Position

Douglas Lane & Associates LLC trimmed its position in shares of American Express (NYSE:AXP) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,686 shares of the payment services company’s stock after selling 44,303 shares during the period. American Express comprises approximately 2.0% of Douglas Lane & Associates LLC’s portfolio, making the stock its 6th biggest holding. Douglas Lane & Associates LLC owned about 0.07% of American Express worth $144,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AXP. Gilman Hill Asset Management LLC raised its holdings in American Express by 7.7% during the third quarter. Gilman Hill Asset Management LLC now owns 21,787 shares of the payment services company’s stock valued at $5,909,000 after buying an additional 1,555 shares in the last quarter. Willner & Heller LLC raised its holdings in American Express by 18.0% during the third quarter. Willner & Heller LLC now owns 1,283 shares of the payment services company’s stock valued at $348,000 after buying an additional 196 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in American Express by 33.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 3,170 shares of the payment services company’s stock valued at $860,000 after buying an additional 786 shares in the last quarter. Crestmont Private Wealth LLC bought a new position in shares of American Express in the third quarter worth about $213,000. Finally, CHICAGO TRUST Co NA increased its stake in shares of American Express by 3.7% in the third quarter. CHICAGO TRUST Co NA now owns 23,139 shares of the payment services company’s stock worth $6,275,000 after purchasing an additional 835 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AXP shares. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Barclays lifted their price objective on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Monness Crespi & Hardt lifted their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, BTIG Research downgraded 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. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $239.96.

American Express Stock Up 2.1 %

Shares of American Express stock traded up $5.69 during trading on Friday, reaching $276.16. The stock had a trading volume of 1,723,286 shares, compared to its average volume of 2,916,553. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $196.32 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.50 and a beta of 1.21. The stock has a fifty day moving average price of $256.44 and a two-hundred day moving average price of $242.07. American Express has a 52 week low of $140.91 and a 52 week high of $277.11.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.89 EPS. Sell-side analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 annualized dividend and a dividend yield of 1.01%. American Express’s dividend payout ratio is currently 20.90%.

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.