Brooklyn Investment Group Has $882,000 Stock Position in American Express (NYSE:AXP)

Brooklyn Investment Group boosted its holdings in American Express (NYSE:AXP) by 12.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,254 shares of the payment services company’s stock after acquiring an additional 368 shares during the quarter. Brooklyn Investment Group’s holdings in American Express were worth $882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the third quarter worth $29,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express in the 3rd quarter worth about $46,000. Finally, Capital Performance Advisors LLP bought a new position in American Express in the third quarter valued at about $48,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of American Express 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 in the company, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI lifted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. 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 report on Tuesday, September 17th. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Barclays increased their price target on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $253.09.

American Express Stock Up 1.4 %

AXP stock opened at $305.37 on Tuesday. The stock’s 50 day simple moving average is $276.97 and its 200 day simple moving average is $253.82. The company has a market cap of $215.12 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a fifty-two week low of $163.32 and a fifty-two week high of $305.80.

American Express (NYSE:AXP) last released its quarterly earnings results 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 business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. On average, research analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed 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 0.92%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio is 20.60%.

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.