Rossmore Private Capital Cuts Stake in American Express (NYSE:AXP)

Rossmore Private Capital lowered its position in American Express (NYSE:AXP) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,104 shares of the payment services company’s stock after selling 70 shares during the quarter. Rossmore Private Capital’s holdings in American Express were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Souders Financial Advisors purchased a new stake in American Express in the third quarter worth approximately $1,028,000. Aptus Capital Advisors LLC boosted its stake in shares of American Express by 21.6% during the third quarter. Aptus Capital Advisors LLC now owns 7,811 shares of the payment services company’s stock valued at $2,118,000 after purchasing an additional 1,387 shares during the period. Cumberland Partners Ltd boosted its stake in shares of American Express by 175.0% during the third quarter. Cumberland Partners Ltd now owns 5,500 shares of the payment services company’s stock valued at $1,492,000 after purchasing an additional 3,500 shares during the period. Savvy Advisors Inc. boosted its stake in shares of American Express by 38.0% during the third quarter. Savvy Advisors Inc. now owns 1,865 shares of the payment services company’s stock valued at $506,000 after purchasing an additional 514 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its stake in shares of American Express by 1.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 7,979 shares of the payment services company’s stock valued at $2,164,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. HSBC lowered American Express from a “buy” rating to a “hold” rating and increased their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Evercore ISI upped their target price on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Wells Fargo & Company upped their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.09.

American Express Price Performance

Shares of NYSE:AXP opened at $288.60 on Wednesday. American Express has a 1-year low of $153.50 and a 1-year high of $296.83. 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 business has a fifty day moving average price of $270.01 and a 200-day moving average price of $250.23. The company has a market capitalization of $203.30 billion, a PE ratio of 21.24, a PEG ratio of 1.68 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $16.68 billion. During the same period last year, the company earned $3.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.97%. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

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.