Orrstown Financial Services Inc. Trims Stock Position in American Express (NYSE:AXP)

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Orrstown Financial Services Inc. cut its stake in shares of American Express (NYSE:AXP) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,972 shares of the payment services company’s stock after selling 417 shares during the quarter. American Express makes up approximately 1.9% of Orrstown Financial Services Inc.’s holdings, making the stock its 12th biggest holding. Orrstown Financial Services Inc.’s holdings in American Express were worth $1,295,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXP. Arjuna Capital increased its position in shares of American Express by 2.3% during the second quarter. Arjuna Capital now owns 14,329 shares of the payment services company’s stock worth $1,769,000 after acquiring an additional 328 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of American Express by 1.4% during the second quarter. Pictet Asset Management Ltd. now owns 962,868 shares of the payment services company’s stock valued at $118,856,000 after purchasing an additional 13,600 shares in the last quarter. Little House Capital LLC boosted its stake in shares of American Express by 21,136.7% during the second quarter. Little House Capital LLC now owns 169,044 shares of the payment services company’s stock valued at $20,867,000 after purchasing an additional 168,248 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of American Express during the second quarter valued at approximately $293,000. Finally, Marshall Wace North America L.P. boosted its stake in shares of American Express by 2,364.4% during the second quarter. Marshall Wace North America L.P. now owns 365,562 shares of the payment services company’s stock valued at $45,126,000 after purchasing an additional 350,728 shares in the last quarter. 84.12% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on AXP shares. Wells Fargo & Co reiterated a “buy” rating on shares of American Express in a research note on Friday, December 6th. JPMorgan Chase & Co. set a $122.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Tuesday, October 8th. Nomura increased their price objective on shares of American Express from to and gave the company a “buy” rating in a research note on Monday. Oppenheimer set a $126.00 price objective on shares of American Express and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets raised their target price on shares of American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $127.29.

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 shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the sale, the insider now directly owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the completion of the sale, the chief executive officer now directly owns 184,090 shares in the company, valued at $21,715,256.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,820 shares of company stock valued at $3,033,961. 0.21% of the stock is owned by insiders.

Shares of NYSE:AXP traded up $0.97 during trading hours on Friday, reaching $131.52. The stock had a trading volume of 3,546,768 shares, compared to its average volume of 2,860,822. American Express has a 1 year low of $96.37 and a 1 year high of $130.93. The firm’s 50 day moving average is $123.91 and its 200-day moving average is $121.66. 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 stock has a market capitalization of $105.39 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.35 and a beta of 1.05.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.01. American Express had a net margin of 16.51% and a return on equity of 29.68%. The company had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm posted $1.88 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that American Express will post 8.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.72 dividend on an annualized basis and a yield of 1.31%. This is an increase from American Express’s previous quarterly dividend of $0.39. American Express’s dividend payout ratio is presently 23.47%.

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

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