Vest Financial LLC Purchases 6,240 Shares of American Express (NYSE:AXP)

Vest Financial LLC increased its position in shares of American Express (NYSE:AXP) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,447 shares of the payment services company’s stock after purchasing an additional 6,240 shares during the period. Vest Financial LLC’s holdings in American Express were worth $27,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. RFG Advisory LLC increased its holdings in American Express by 1.1% in the 1st quarter. RFG Advisory LLC now owns 9,115 shares of the payment services company’s stock valued at $2,075,000 after acquiring an additional 99 shares during the last quarter. Royal Fund Management LLC bought a new stake in American Express in the 1st quarter valued at $225,000. Game Plan Financial Advisors LLC increased its holdings in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in American Express in the 1st quarter valued at $51,000. Finally, Baker Boyer National Bank increased its holdings in American Express by 5.3% in the 1st quarter. Baker Boyer National Bank now owns 1,678 shares of the payment services company’s stock valued at $382,000 after acquiring an additional 85 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 3.1 %

Shares of NYSE AXP traded down $8.99 during midday trading on Friday, reaching $276.79. 7,884,358 shares of the company’s stock traded hands, compared to its average volume of 2,930,270. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock’s 50 day simple moving average is $261.27 and its 200-day simple moving average is $243.90. American Express has a one year low of $140.91 and a one year high of $286.36. The company has a market cap of $199.10 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period last year, the firm earned $3.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AXP shares. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Finally, Bank of America boosted their target price 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. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $242.33.

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.