American Express (NYSE:AXP) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in American Express (NYSE:AXP) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 419,373 shares of the payment services company’s stock after selling 6,952 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in American Express were worth $113,734,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in American Express in the 3rd quarter worth approximately $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express in the third quarter worth $29,000. True Wealth Design LLC raised its holdings in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares during the last quarter. DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. Finally, POM Investment Strategies LLC purchased a new stake in American Express in the second quarter valued at $42,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of NYSE:AXP opened at $304.68 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1 year low of $165.93 and a 1 year high of $307.82. The firm has a market capitalization of $214.63 billion, a PE ratio of 22.42, a P/E/G ratio of 1.74 and a beta of 1.21. The business’s 50 day moving average price is $280.04 and its 200-day moving average price is $255.61.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during 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%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 earnings per share. As a group, equities research analysts expect that American Express will post 13.39 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm 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 0.92%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on 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 transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s 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 completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several analyst reports. Barclays boosted their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bank of America raised their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.09.

About American Express

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.