American Express (NYSE:AXP) Holdings Raised by Palisades Hudson Asset Management L.P.

Palisades Hudson Asset Management L.P. lifted its holdings in shares of American Express (NYSE:AXP) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,721 shares of the payment services company’s stock after purchasing an additional 500 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in American Express were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC lifted its holdings in shares of American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares during the period. Empowered Funds LLC lifted its holdings in shares of American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after acquiring an additional 6,329 shares during the period. Sciencast Management LP bought a new position in shares of American Express during the 1st quarter worth about $1,881,000. Oliver Lagore Vanvalin Investment Group lifted its holdings in American Express by 2,196.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after purchasing an additional 7,885 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in American Express by 49.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after acquiring an additional 91,760 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Barclays boosted their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group lifted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and lifted their price target for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $253.09.

Insider Activity

In related news, 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 value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred 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 owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, 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. Company insiders own 0.12% of the company’s stock.

American Express Trading Down 0.3 %

NYSE AXP traded down $0.84 during trading hours on Monday, reaching $271.85. The company’s stock had a trading volume of 131,957 shares, compared to its average volume of 2,902,991. The firm has a fifty day simple moving average of $266.02 and a 200-day simple moving average of $247.66. The stock has a market cap of $191.50 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.47 and a beta of 1.21. American Express has a 52 week low of $151.51 and a 52 week high of $286.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $3.30 EPS. Equities analysts forecast that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

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.