American Express (NYSE:AXP) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC cut its holdings in American Express (NYSE:AXP) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,936 shares of the payment services company’s stock after selling 135 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in American Express were worth $2,423,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norden Group LLC purchased a new position in American Express during the first quarter worth about $375,000. Geneos Wealth Management Inc. increased its holdings in shares of American Express by 4.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,221 shares of the payment services company’s stock valued at $506,000 after purchasing an additional 102 shares in the last quarter. Advisory Alpha LLC acquired a new stake in shares of American Express in the first quarter valued at about $212,000. Advisory Services Network LLC lifted its stake in shares of American Express by 11.2% in the first quarter. Advisory Services Network LLC now owns 27,281 shares of the payment services company’s stock valued at $6,212,000 after purchasing an additional 2,748 shares during the period. Finally, Duality Advisers LP boosted its holdings in American Express by 20.2% during the first quarter. Duality Advisers LP now owns 9,119 shares of the payment services company’s stock worth $2,076,000 after buying an additional 1,531 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AXP. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and lifted their price target for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Barclays upped their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $253.09.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, 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 disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

American Express Trading Up 7.0 %

NYSE AXP opened at $295.12 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a one year low of $152.05 and a one year high of $296.83. The company’s 50 day moving average price is $267.52 and its 200 day moving average price is $248.67. The firm has a market capitalization of $207.90 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last announced 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. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the company earned $3.30 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 13.41 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

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.