First Trust Advisors LP raised its holdings in American Express (NYSE:AXP) by 41.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 297,845 shares of the payment services company’s stock after buying an additional 87,134 shares during the quarter. First Trust Advisors LP’s holdings in American Express were worth $35,229,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC acquired a new stake in American Express in the 3rd quarter valued at approximately $27,000. Winthrop Partners WNY LLC acquired a new stake in shares of American Express during the 3rd quarter worth approximately $30,000. HMS Capital Management LLC acquired a new stake in shares of American Express during the 2nd quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in shares of American Express during the 3rd quarter worth approximately $35,000. Finally, Enterprise Trust & Investment Co acquired a new stake in shares of American Express during the 3rd quarter worth approximately $38,000. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Express stock traded down $0.39 during midday trading on Wednesday, hitting $120.50. 528,374 shares of the company were exchanged, compared to its average volume of 3,336,210. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market cap of $99.40 billion, a P/E ratio of 16.44, a PEG ratio of 1.41 and a beta of 1.05. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The firm has a 50 day simple moving average of $117.57 and a 200-day simple moving average of $120.56.
The business also recently announced a 0.39000 dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s dividend payout ratio (DPR) is presently 23.47%.
In related news, insider Denise Pickett sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $118.39, for a total transaction of $284,136.00. Following the completion of the transaction, the insider now owns 9,788 shares in the company, valued at approximately $1,158,801.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total value of $1,774,950.00. Following the transaction, the chief executive officer now owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The disclosure for this sale can be found here. Insiders have sold a total of 25,820 shares of company stock valued at $3,039,511 in the last 90 days. 0.21% of the stock is owned by corporate insiders.
Several analysts have recently weighed in on the company. ValuEngine lowered American Express from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. William Blair reissued a “buy” rating on shares of American Express in a report on Friday, October 18th. BMO Capital Markets lifted their price objective on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. JPMorgan Chase & Co. set a $122.00 price objective on American Express and gave the stock a “hold” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley lifted their price objective on American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. American Express presently has a consensus rating of “Hold” and a consensus target price of $124.96.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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