Palisades Hudson Asset Management L.P. Buys 500 Shares of American Express (NYSE:AXP)

Palisades Hudson Asset Management L.P. raised its stake in shares of American Express (NYSE:AXP) by 22.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,721 shares of the payment services company’s stock after acquiring an additional 500 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in American Express were worth $738,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. boosted its position in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares in the last quarter. BNP Paribas purchased a new position in American Express in the 1st quarter worth $40,000. POM Investment Strategies LLC purchased a new position in American Express in the 2nd quarter worth $42,000. Founders Capital Management purchased a new position in American Express in the 2nd quarter worth $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express in the 3rd quarter worth $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of the company’s 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 completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s 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 sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the business’s 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 sale, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AXP shares. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Morgan Stanley raised their target price on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. TD Cowen raised their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada lifted their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Trading Down 0.3 %

Shares of NYSE AXP traded down $0.84 during trading on Monday, hitting $271.85. 131,957 shares of the company traded hands, compared to its average volume of 2,902,991. American Express has a 1 year low of $151.51 and a 1 year high of $286.36. The company has a 50-day moving average price of $266.02 and a 200-day moving average price of $247.66. The firm has a market capitalization of $191.50 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.47 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 announced its quarterly earnings data 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 net margin of 15.32% and a return on equity of 32.46%. The company 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 earned $3.30 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that American Express will post 13.41 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared 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 1.03%. American Express’s dividend payout ratio (DPR) is 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.