Arcadia Investment Management Corp MI Acquires 144 Shares of American Express (NYSE:AXP)

Arcadia Investment Management Corp MI boosted its holdings in shares of American Express (NYSE:AXP) by 0.6% during the third quarter, HoldingsChannel reports. The fund owned 25,834 shares of the payment services company’s stock after purchasing an additional 144 shares during the quarter. American Express comprises 1.2% of Arcadia Investment Management Corp MI’s holdings, making the stock its 29th largest position. Arcadia Investment Management Corp MI’s holdings in American Express were worth $7,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners boosted its stake in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express in the 1st quarter valued at $433,709,000. Finally, abrdn plc boosted its stake in shares of American Express by 2.2% in the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after purchasing an additional 27,859 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

AXP has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Barclays upped their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada boosted their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $253.09.

American Express Stock Performance

AXP opened at $272.69 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average price is $266.02 and its two-hundred day moving average price is $247.45. American Express has a 1-year low of $148.33 and a 1-year high of $286.36. The company has a market cap of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.49 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 firm had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that American Express will post 13.41 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. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s payout ratio is 20.60%.

Insider Transactions at American Express

In other news, 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 in the company, valued at $29,724,067.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

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.