Beese Fulmer Investment Management Inc. Cuts Stock Position in American Express (NYSE:AXP)

Beese Fulmer Investment Management Inc. trimmed its position in American Express (NYSE:AXP) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,210 shares of the payment services company’s stock after selling 163 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in American Express were worth $4,125,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. raised its position in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares in the last quarter. BNP Paribas purchased a new position in American Express in the first quarter worth $40,000. POM Investment Strategies LLC purchased a new position in American Express in the second quarter worth $42,000. Founders Capital Management purchased a new position in American Express in the second quarter worth $46,000. Finally, Beacon Capital Management LLC raised its position in American Express by 162.1% in the first quarter. Beacon Capital Management LLC now owns 228 shares of the payment services company’s stock worth $52,000 after acquiring an additional 141 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

American Express stock opened at $271.22 on Thursday. The stock’s 50 day moving average price is $263.16 and its 200 day moving average price is $244.92. The firm has a market capitalization of $195.09 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $141.02 and a one year high of $286.36.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS. As a group, sell-side analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on AXP shares. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Barclays upped their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and upped their target price for the company from $268.00 to $286.00 in a report on Monday, October 7th. HSBC lowered American Express from a “buy” rating to a “hold” rating and upped their target price for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus 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.