Douglas Lane & Associates LLC Sells 58,853 Shares of American Express Company (AXP)

Douglas Lane & Associates LLC lowered its position in American Express Company (NYSE:AXP) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,772 shares of the payment services company’s stock after selling 58,853 shares during the quarter. American Express makes up approximately 1.4% of Douglas Lane & Associates LLC’s holdings, making the stock its 27th biggest position. Douglas Lane & Associates LLC owned about 0.08% of American Express worth $60,949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MCF Advisors LLC boosted its stake in shares of American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after acquiring an additional 4 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in shares of American Express by 0.3% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after acquiring an additional 8 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of American Express by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after acquiring an additional 11 shares in the last quarter. Finally, Bath Savings Trust Co boosted its stake in shares of American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.

In other news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,199 shares of company stock valued at $20,484,750. 0.67% of the stock is currently owned by insiders.

American Express Company (NYSE:AXP) opened at $98.59 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $84,942.11, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. American Express Company has a twelve month low of $71.99 and a twelve month high of $99.17.

American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. equities research analysts expect that American Express Company will post 5.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. American Express’s payout ratio is presently 26.97%.

AXP has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Credit Suisse Group reissued an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Bank of America reissued a “buy” rating and set a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and an average price target of $91.56.

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About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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