Addison Advisors LLC Has $169,000 Stake in American Express (NYSE:AXP)

Addison Advisors LLC cut its stake in American Express (NYSE:AXP) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 622 shares of the payment services company’s stock after selling 79 shares during the quarter. Addison Advisors LLC’s holdings in American Express were worth $169,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AXP. Sovereign Financial Group Inc. increased its stake in American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC increased its position in shares of American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after buying an additional 40 shares in the last quarter. Concord Wealth Partners raised its stake in American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after buying an additional 40 shares during the period. Sawgrass Asset Management LLC raised its stake in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the period. Finally, Godsey & Gibb Inc. grew its stake in American Express by 3.5% in the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after acquiring an additional 41 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXP. Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research note on Tuesday, October 8th. TD Cowen increased their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Barclays upped their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $253.09.

American Express Stock Up 1.9 %

Shares of AXP stock opened at $293.05 on Tuesday. American Express has a 52-week low of $153.50 and a 52-week high of $296.83. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $206.44 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.56 and a beta of 1.21. The firm’s 50-day moving average is $268.64 and its 200-day moving average is $249.46.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.30 earnings per share. Sell-side analysts predict that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s payout ratio is presently 20.60%.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on 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 sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anre D. Williams sold 77,887 shares of the 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 sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

American Express 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.