Tidal Investments LLC Purchases 16,321 Shares of American Express (NYSE:AXP)

Tidal Investments LLC boosted its stake in shares of American Express (NYSE:AXP) by 58.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,390 shares of the payment services company’s stock after purchasing an additional 16,321 shares during the period. Tidal Investments LLC’s holdings in American Express were worth $12,039,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB grew its position in American Express by 293.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 31,428 shares of the payment services company’s stock worth $8,523,000 after purchasing an additional 23,432 shares during the last quarter. World Investment Advisors LLC grew its position in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after purchasing an additional 3,867 shares during the last quarter. SkyView Investment Advisors LLC grew its position in American Express by 3.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,423 shares of the payment services company’s stock worth $657,000 after purchasing an additional 73 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in American Express by 2.7% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company’s stock worth $2,178,000 after purchasing an additional 209 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in American Express during the 3rd quarter worth approximately $1,296,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Monness Crespi & Hardt upped their price objective on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. BTIG Research downgraded 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. TD Cowen increased their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Evercore ISI increased their price target on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $259.45.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred 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 in the company, 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. Over the last quarter, insiders sold 96,998 shares of company stock valued at $26,423,439. 0.12% of the stock is currently owned by company insiders.

American Express Price Performance

American Express stock opened at $300.29 on Friday. American Express has a 12-month low of $170.15 and a 12-month high of $307.82. The stock has a market cap of $211.54 billion, a P/E ratio of 22.10, a PEG ratio of 1.73 and a beta of 1.23. The company has a 50-day moving average price of $285.93 and a 200 day moving average price of $259.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. American Express’s payout ratio is 20.60%.

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.