Banyan Capital Management Inc. Has $9.48 Million Holdings in American Express (NYSE:AXP)

Banyan Capital Management Inc. decreased its stake in American Express (NYSE:AXP) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,958 shares of the payment services company’s stock after selling 838 shares during the period. American Express comprises about 5.5% of Banyan Capital Management Inc.’s holdings, making the stock its 10th largest holding. Banyan Capital Management Inc.’s holdings in American Express were worth $9,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in American Express in the 3rd quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. lifted its stake in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express in the 3rd quarter valued at approximately $46,000. Capital Performance Advisors LLP bought a new position in American Express in the 3rd quarter valued at approximately $48,000. Finally, POM Investment Strategies LLC acquired a new position in American Express in the 2nd quarter valued at approximately $42,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’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 transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the firm’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 transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Express Stock Down 0.5 %

American Express stock opened at $286.87 on Monday. American Express has a 1-year low of $157.97 and a 1-year high of $296.83. The firm has a market capitalization of $202.09 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The firm’s fifty day moving average price is $272.31 and its two-hundred day moving average price is $251.34. 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 released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share 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 firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same period last year, the firm earned $3.30 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that American Express will post 13.47 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and upped their price target for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. The Goldman Sachs Group upped their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $253.09.

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.