Argus Investors Counsel Inc. Reduces Stock Position in American Express (NYSE:AXP)

Argus Investors Counsel Inc. lessened its stake in American Express (NYSE:AXP) by 19.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,156 shares of the payment services company’s stock after selling 1,727 shares during the period. American Express comprises 1.3% of Argus Investors Counsel Inc.’s portfolio, making the stock its 26th largest holding. Argus Investors Counsel Inc.’s holdings in American Express were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AXP. Alphinity Investment Management Pty Ltd acquired a new position in American Express in the first quarter valued at $433,709,000. Public Employees Retirement Association of Colorado boosted its stake in American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. M&G Plc acquired a new position in American Express in the first quarter valued at $114,990,000. Finally, Canada Pension Plan Investment Board boosted its stake in American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after acquiring an additional 486,755 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of American Express stock traded up $0.44 during trading on Tuesday, hitting $271.18. 767,633 shares of the company were exchanged, compared to its average volume of 2,925,404. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $286.36. The stock has a market capitalization of $195.06 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 1.50 and a beta of 1.21. The firm has a 50 day moving average price of $261.94 and a 200 day moving average price of $244.38.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the previous year, the firm posted $3.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research reports. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Wells Fargo & Company raised their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI raised their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Bank of America raised their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $244.58.

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.