Lodestone Wealth Management LLC Has $3.79 Million Position in American Express (NYSE:AXP)

Lodestone Wealth Management LLC lessened its holdings in shares of American Express (NYSE:AXP) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,983 shares of the payment services company’s stock after selling 141 shares during the period. American Express accounts for about 1.8% of Lodestone Wealth Management LLC’s portfolio, making the stock its 12th largest position. Lodestone Wealth Management LLC’s holdings in American Express were worth $3,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of American Express by 2.5% in the third quarter. Harbor Capital Advisors Inc. now owns 11,702 shares of the payment services company’s stock valued at $3,174,000 after purchasing an additional 283 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of American Express by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 204,358 shares of the payment services company’s stock valued at $55,422,000 after buying an additional 30,743 shares during the period. Pure Financial Advisors LLC raised its position in shares of American Express by 4.2% during the third quarter. Pure Financial Advisors LLC now owns 1,687 shares of the payment services company’s stock worth $457,000 after acquiring an additional 68 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of American Express by 0.6% during the third quarter. Arcadia Investment Management Corp MI now owns 25,834 shares of the payment services company’s stock valued at $7,006,000 after acquiring an additional 144 shares during the period. Finally, Northern Financial Advisors Inc boosted its holdings in American Express by 1.0% in the third quarter. Northern Financial Advisors Inc now owns 9,193 shares of the payment services company’s stock valued at $2,493,000 after acquiring an additional 94 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 1.0 %

AXP stock opened at $272.69 on Friday. American Express has a fifty-two week low of $148.33 and a fifty-two week high of $286.36. 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 stock has a market capitalization of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.49 and a beta of 1.21. The business’s fifty day moving average price is $266.02 and its two-hundred day moving average price is $247.45.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate 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 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that American Express will post 13.41 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Activity

In other news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Express news, 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 transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on AXP. Compass Point began coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. 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 research report on Monday, October 14th. Wells Fargo & Company lifted their target price on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $253.09.

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.