Brooklyn Investment Group Has $882,000 Position in American Express (NYSE:AXP)

Brooklyn Investment Group boosted its position in American Express (NYSE:AXP) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,254 shares of the payment services company’s stock after buying an additional 368 shares during the quarter. Brooklyn Investment Group’s holdings in American Express were worth $882,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of American Express in the third quarter worth $27,000. Kennebec Savings Bank acquired a new stake in American Express in the 3rd quarter valued at $29,000. DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% during 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 in the last quarter. POM Investment Strategies LLC acquired a new position in shares of American Express during the 2nd quarter worth about $42,000. Finally, Founders Capital Management bought a new position in shares of American Express in the 2nd quarter valued at about $46,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $305.37 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The business has a fifty day simple moving average of $276.97 and a 200 day simple moving average of $253.82. American Express has a 1 year low of $163.32 and a 1 year high of $305.80. The company has a market capitalization of $215.12 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results 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 15.32% 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 quarter in the previous year, the business posted $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts expect that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The firm 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. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.92%. American Express’s dividend payout ratio is presently 20.60%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXP shares. Morgan Stanley upped their target price on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. 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. Finally, BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.09.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 approximately $30,176,150.56. This trade represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

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.