State of Alaska Department of Revenue Sells 160 Shares of American Express (NYSE:AXP)

State of Alaska Department of Revenue lessened its position in shares of American Express (NYSE:AXP) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,361 shares of the payment services company’s stock after selling 160 shares during the period. State of Alaska Department of Revenue’s holdings in American Express were worth $18,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AXP. Alphinity Investment Management Pty Ltd bought a new position in American Express in the first quarter valued at about $433,709,000. International Assets Investment Management LLC boosted its stake in shares of American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after purchasing an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC increased its position in American Express by 59,816.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’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 completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.12% of the stock is owned by company insiders.

American Express Stock Performance

Shares of AXP stock opened at $267.35 on Friday. The firm has a 50 day moving average of $263.88 and a 200-day moving average of $245.57. The company has a market cap of $192.31 billion, a price-to-earnings ratio of 22.02, 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. American Express has a 52 week low of $141.02 and a 52 week high of $286.36.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period last year, the company posted $3.30 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group increased their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Morgan Stanley upped their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. TD Cowen lifted 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. Finally, Barclays increased their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $253.09.

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.