Metis Global Partners LLC Grows Position in American Express (NYSE:AXP)

Metis Global Partners LLC grew its stake in American Express (NYSE:AXP) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,336 shares of the payment services company’s stock after buying an additional 780 shares during the period. Metis Global Partners LLC’s holdings in American Express were worth $7,685,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXP. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Monness Crespi & Hardt lifted their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen increased their target price 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. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.09.

American Express Trading Up 0.5 %

NYSE:AXP opened at $289.00 on Thursday. The company has a market cap of $203.59 billion, a PE ratio of 21.17, a P/E/G ratio of 1.65 and a beta of 1.21. The business’s 50 day moving average is $270.73 and its two-hundred day moving average is $250.49. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 52 week low of $157.00 and a 52 week high of $296.83.

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

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is 20.60%.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated Tuesday, October 22nd. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, 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 completion of the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction 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 sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

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.