Borer Denton & Associates Inc. Has $756,000 Position in American Express (NYSE:AXP)

Borer Denton & Associates Inc. lifted its stake in American Express (NYSE:AXP) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,787 shares of the payment services company’s stock after acquiring an additional 125 shares during the quarter. Borer Denton & Associates Inc.’s holdings in American Express were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of American Express by 32.6% during the 3rd quarter. Larson Financial Group LLC now owns 3,620 shares of the payment services company’s stock valued at $982,000 after purchasing an additional 890 shares in the last quarter. Baltimore Washington Financial Advisors Inc. acquired a new position in American Express during the third quarter worth $232,000. Swedbank AB raised its holdings in American Express by 1.4% during the third quarter. Swedbank AB now owns 408,679 shares of the payment services company’s stock valued at $110,834,000 after buying an additional 5,827 shares in the last quarter. Palisade Asset Management LLC lifted its position in shares of American Express by 1.4% in the third quarter. Palisade Asset Management LLC now owns 7,665 shares of the payment services company’s stock worth $2,079,000 after buying an additional 107 shares during the last quarter. Finally, Canopy Partners LLC boosted its stake in shares of American Express by 7.3% during the 3rd quarter. Canopy Partners LLC now owns 4,477 shares of the payment services company’s stock worth $1,214,000 after acquiring an additional 305 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their target price on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. 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. Monness Crespi & Hardt lifted their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $253.09.

American Express Price Performance

Shares of AXP stock opened at $301.30 on Friday. The firm has a market capitalization of $212.25 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21. American Express has a 12-month low of $163.32 and a 12-month high of $301.92. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $276.08 and a 200-day moving average of $253.23.

American Express (NYSE:AXP) last announced its 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 analyst estimates of $16.68 billion. During the same period in the prior year, the business earned $3.30 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s payout ratio is 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.