American Express (NYSE:AXP) Stake Raised by Global Trust Asset Management LLC

Global Trust Asset Management LLC increased its holdings in American Express (NYSE:AXP) by 49.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,791 shares of the payment services company’s stock after acquiring an additional 1,252 shares during the period. Global Trust Asset Management LLC’s holdings in American Express were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AXP. DHJJ Financial Advisors Ltd. increased its position in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. BNP Paribas acquired a new position in American Express in the 1st quarter worth about $40,000. POM Investment Strategies LLC acquired a new position in American Express in the 2nd quarter worth about $42,000. Founders Capital Management acquired a new position in American Express in the 2nd quarter worth about $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express in the 3rd quarter worth about $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXP. Keefe, Bruyette & Woods upped their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Monness Crespi & Hardt increased their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI increased their price objective on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Price Performance

Shares of AXP stock opened at $269.96 on Friday. The stock has a 50 day moving average of $263.16 and a two-hundred day moving average of $244.92. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12 month low of $141.02 and a 12 month high of $286.36. The company has a market capitalization of $194.18 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the company earned $3.30 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given 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 1.04%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

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.