William Allan Corp Sells 141 Shares of American Express (NYSE:AXP)

William Allan Corp trimmed its position in shares of American Express (NYSE:AXP) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 14,563 shares of the payment services company’s stock after selling 141 shares during the quarter. American Express comprises approximately 2.4% of William Allan Corp’s investment portfolio, making the stock its 17th biggest holding. William Allan Corp’s holdings in American Express were worth $3,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AXP. International Assets Investment Management LLC grew its position in American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares during the period. FMR LLC grew its holdings in American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after acquiring an additional 681,304 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of American Express by 71.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after acquiring an additional 486,755 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In other news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Express Stock Performance

NYSE AXP opened at $304.25 on Friday. The firm has a 50-day moving average price of $279.32 and a two-hundred day moving average price of $254.96. American Express has a 12-month low of $163.61 and a 12-month high of $307.82. The company has a market capitalization of $214.33 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.74 and a beta of 1.21. 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 (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the previous year, the company posted $3.30 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that American Express will post 13.39 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is currently 20.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AXP shares. Monness Crespi & Hardt upped their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen increased their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $253.09.

American Express Company 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.