Portside Wealth Group LLC Acquires 158 Shares of American Express (NYSE:AXP)

Portside Wealth Group LLC lifted its stake in American Express (NYSE:AXP) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,030 shares of the payment services company’s stock after purchasing an additional 158 shares during the period. Portside Wealth Group LLC’s holdings in American Express were worth $822,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AXP. DHJJ Financial Advisors Ltd. lifted its holdings 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 buying an additional 49 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Express in the third quarter worth about $46,000. POM Investment Strategies LLC bought a new position in American Express during the 2nd quarter worth about $42,000. Founders Capital Management purchased a new position in American Express during the 2nd quarter valued at about $46,000. Finally, Sachetta LLC raised its holdings in shares of American Express by 34.0% in the 2nd quarter. Sachetta LLC now owns 205 shares of the payment services company’s stock valued at $52,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AXP shares. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Bank of America raised their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Monness Crespi & Hardt boosted their target price on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada increased their price target 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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.09.

American Express Price Performance

NYSE:AXP opened at $287.60 on Friday. The firm’s fifty day moving average is $268.64 and its two-hundred day moving average is $249.32. The firm has a market cap of $202.60 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a one year low of $152.05 and a one year high of $296.83.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 earnings per share. Research analysts expect that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.