Linscomb Wealth Inc. Has $824,000 Stock Holdings in American Express (NYSE:AXP)

Linscomb Wealth Inc. decreased its position in shares of American Express (NYSE:AXP) by 13.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,039 shares of the payment services company’s stock after selling 471 shares during the period. Linscomb Wealth Inc.’s holdings in American Express were worth $824,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in American Express in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its position in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in American Express in the second quarter valued at approximately $42,000. Founders Capital Management acquired a new position in shares of American Express during the second quarter worth $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Express during the third quarter worth $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXP. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley lifted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Barclays lifted their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Bank of America lifted their target price 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. Four investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.09.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The shares were 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 of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % 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 Stock Performance

NYSE AXP opened at $286.80 on Friday. The company’s 50 day moving average is $272.31 and its 200-day moving average is $251.09. American Express has a 12-month low of $157.97 and a 12-month high of $296.83. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a market cap of $202.04 billion, a P/E ratio of 21.10, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts predict that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

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

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.