2,110 Shares in American Express (NYSE:AXP) Acquired by Camden National Bank

Camden National Bank purchased a new position in American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,110 shares of the payment services company’s stock, valued at approximately $572,000.

Several other institutional investors also recently modified their holdings of the stock. Sovereign Financial Group Inc. boosted its holdings in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after buying an additional 38 shares during the period. Legacy Financial Strategies LLC lifted its position in American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after buying an additional 40 shares in the last quarter. Concord Wealth Partners boosted its position in American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 40 shares during the last quarter. Sawgrass Asset Management LLC boosted its stake in shares of American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares in the last quarter. Finally, Godsey & Gibb Inc. grew its holdings in American Express by 3.5% during the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP stock opened at $301.21 on Friday. The firm has a market cap of $212.19 billion, a price-to-earnings ratio of 22.16, 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. American Express has a 12 month low of $163.32 and a 12 month high of $301.92. The stock has a 50-day moving average price of $276.08 and a 200 day moving average price of $253.10.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share. Research analysts expect that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The business also recently announced 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. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 20.60%.

Insider Transactions at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 41.09 % 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. 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 sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of research analyst reports. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and upped their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Barclays raised their price objective on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Bank of America raised their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Monness Crespi & Hardt boosted their price target on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $253.09.

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.