American Express (NYSE:AXP) Position Lessened by Douglass Winthrop Advisors LLC

Share on StockTwits

Douglass Winthrop Advisors LLC decreased its stake in American Express (NYSE:AXP) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 231,991 shares of the payment services company’s stock after selling 2,665 shares during the period. Douglass Winthrop Advisors LLC’s holdings in American Express were worth $28,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CSat Investment Advisory L.P. raised its stake in American Express by 16.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 10,178 shares of the payment services company’s stock valued at $1,256,000 after acquiring an additional 1,466 shares in the last quarter. Employers Holdings Inc. raised its stake in American Express by 112.4% during the 3rd quarter. Employers Holdings Inc. now owns 30,952 shares of the payment services company’s stock valued at $3,737,000 after acquiring an additional 16,381 shares in the last quarter. Alps Advisors Inc. raised its stake in American Express by 3.6% during the 3rd quarter. Alps Advisors Inc. now owns 151,066 shares of the payment services company’s stock valued at $17,868,000 after acquiring an additional 5,319 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in American Express by 306.2% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 144,420 shares of the payment services company’s stock valued at $17,827,000 after acquiring an additional 108,870 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in American Express by 6.8% during the 2nd quarter. Cresset Asset Management LLC now owns 7,435 shares of the payment services company’s stock valued at $918,000 after acquiring an additional 473 shares in the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of AXP stock traded down $0.53 during mid-day trading on Friday, hitting $127.28. 2,788,654 shares of the stock traded hands, compared to its average volume of 2,675,971. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $102.73 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05. The company’s 50-day simple moving average is $122.81 and its 200-day simple moving average is $121.52. American Express has a twelve month low of $96.37 and a twelve month high of $129.34.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 EPS. Analysts forecast that American Express will post 8.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from American Express’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 2nd. American Express’s payout ratio is presently 23.47%.

Several analysts have weighed in on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, December 10th. Morgan Stanley lifted their target price on American Express from $142.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Cfra reaffirmed a “hold” rating on shares of American Express in a research note on Friday, October 18th. JPMorgan Chase & Co. set a $122.00 price target on American Express and gave the company a “hold” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of American Express in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $126.31.

In related news, Director Theodore Leonsis sold 8,420 shares of American Express stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the transaction, the director now directly owns 11,580 shares in the company, valued at approximately $1,348,375.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $117.96, for a total value of $1,769,400.00. Following the completion of the transaction, the chief executive officer now owns 184,090 shares in the company, valued at $21,715,256.40. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock worth $3,033,961 over the last 90 days. Insiders own 0.21% of the company’s stock.

About American Express

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.

Further Reading: How to execute a trade ex-dividend strategy?

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.