Main Street Financial Solutions LLC Trims Holdings in American Express (NYSE:AXP)

Main Street Financial Solutions LLC decreased its position in shares of American Express (NYSE:AXP) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 913 shares of the payment services company’s stock after selling 49 shares during the quarter. Main Street Financial Solutions LLC’s holdings in American Express were worth $248,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in American Express during the 3rd quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. POM Investment Strategies LLC acquired a new position in American Express during the second quarter valued at $42,000. Founders Capital Management purchased a new stake in American Express in the second quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 0.5 %

NYSE AXP opened at $286.80 on Friday. 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 $157.97 and a 52 week high of $296.83. The business’s fifty day simple moving average is $271.46 and its 200-day simple moving average is $250.75. The firm has a market cap of $202.04 billion, a PE ratio of 21.34, a P/E/G ratio of 1.65 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 EPS. As a group, equities analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. HSBC downgraded American Express from a “buy” rating to a “hold” rating and upped their target price for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. TD Cowen upped their price objective 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. Finally, Wells Fargo & Company raised their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $253.09.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.