53,190 Shares in American Express (NYSE:AXP) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of American Express (NYSE:AXP) in the third quarter, HoldingsChannel.com reports. The fund acquired 53,190 shares of the payment services company’s stock, valued at approximately $14,425,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in American Express in the 1st quarter worth $213,000. Bessemer Group Inc. increased its holdings in American Express by 26.2% during the 1st quarter. Bessemer Group Inc. now owns 39,494 shares of the payment services company’s stock valued at $8,992,000 after purchasing an additional 8,204 shares during the period. EP Wealth Advisors LLC raised its position in American Express by 1.2% during the 1st quarter. EP Wealth Advisors LLC now owns 21,863 shares of the payment services company’s stock valued at $4,978,000 after purchasing an additional 258 shares during the last quarter. Axxcess Wealth Management LLC grew its position in shares of American Express by 95.6% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,812 shares of the payment services company’s stock worth $2,006,000 after buying an additional 4,306 shares during the last quarter. Finally, Envoi LLC purchased a new position in shares of American Express during the first quarter valued at approximately $307,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the business’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 transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $287.65 on Thursday. American Express has a 52 week low of $161.73 and a 52 week high of $296.83. The firm has a market capitalization of $202.64 billion, a P/E ratio of 21.17, a PEG ratio of 1.63 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $274.48 and a 200-day moving average price of $252.35.

American Express (NYSE:AXP) last posted its quarterly earnings data 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. 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 last year, the company earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 13.47 earnings per share for the current year.

American Express Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BTIG Research cut shares of 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. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and increased their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Evercore ISI increased their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Finally, TD Cowen upped their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.