Greenfield Savings Bank Decreases Stock Holdings in American Express (NYSE:AXP)

Greenfield Savings Bank lessened its holdings in American Express (NYSE:AXP) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,118 shares of the payment services company’s stock after selling 47 shares during the period. American Express makes up about 1.9% of Greenfield Savings Bank’s investment portfolio, making the stock its 13th largest position. Greenfield Savings Bank’s holdings in American Express were worth $3,893,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Auxier Asset Management boosted its stake in shares of American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after purchasing an additional 35 shares during the period. Abel Hall LLC grew its stake in American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares in the last quarter. Sunflower Bank N.A. increased its position in shares of American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after acquiring an additional 35 shares during the period. Sovereign Financial Group Inc. raised its stake in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after acquiring an additional 38 shares in the last quarter. Finally, Legacy Financial Strategies LLC boosted its holdings in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $297.33 on Tuesday. The company has a market capitalization of $209.45 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.73 and a beta of 1.23. The business’s 50-day moving average is $297.43 and its two-hundred day moving average is $270.12. 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 $177.81 and a fifty-two week high of $307.82.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion during 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% on a year-over-year basis. During the same period last year, the business earned $3.30 earnings per share. Research analysts predict that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is 20.60%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AXP shares. Keefe, Bruyette & Woods increased their price target on American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Compass Point increased their target price on shares of American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays boosted their price target 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. TD Cowen lifted their price objective on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $277.82.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,998 shares of company stock valued at $26,423,439 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

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.