American Express (NYSE:AXP) Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. decreased its holdings in American Express (NYSE:AXP) by 20.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,164 shares of the payment services company’s stock after selling 2,819 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in American Express were worth $3,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. Price T Rowe Associates Inc. MD boosted its stake in shares of American Express by 8.5% during the 1st 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 buying an additional 662,382 shares during the last quarter. TD Asset Management Inc raised its holdings in American Express by 8.2% in the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after acquiring an additional 195,876 shares in the last quarter. Boston Partners boosted its stake in American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after acquiring an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in American Express during the 1st quarter worth $433,709,000. Finally, abrdn plc increased its position in shares of American Express by 2.2% in the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock worth $343,437,000 after purchasing an additional 27,859 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXP shares. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. TD Cowen boosted their price objective on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Evercore ISI upped their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Finally, Morgan Stanley increased their target price on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $253.09.

American Express Price Performance

Shares of NYSE AXP traded up $3.38 during mid-day trading on Tuesday, reaching $273.57. The company had a trading volume of 100,518 shares, compared to its average volume of 2,898,372. American Express has a 1-year low of $151.51 and a 1-year high of $286.36. The stock has a market cap of $192.72 billion, a PE ratio of 19.88, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $266.34 and a two-hundred day moving average price of $248.03.

American Express (NYSE:AXP) last posted 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 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 EPS. The business’s revenue for the quarter 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.60%.

Insider Activity

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the company’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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

American Express 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.