Canandaigua National Bank & Trust Co. lowered its stake in American Express (NYSE:AXP) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,343 shares of the payment services company’s stock after selling 692 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in American Express were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Guidant Wealth Advisors raised its stake in shares of American Express by 280.7% in the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock worth $150,000 after buying an additional 595 shares during the period. Destination Wealth Management raised its stake in shares of American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after buying an additional 660 shares during the period. Lenox Wealth Advisors LLC raised its stake in shares of American Express by 1,173.8% in the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock worth $114,000 after buying an additional 986 shares during the period. Tuttle Tactical Management bought a new position in shares of American Express in the second quarter worth about $105,000. Finally, Sageworth Trust Co raised its stake in shares of American Express by 455.6% in the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock worth $133,000 after buying an additional 1,025 shares during the period. 82.98% of the stock is currently owned by hedge funds and other institutional investors.
AXP has been the topic of several recent analyst reports. Oppenheimer set a $114.00 target price on American Express and gave the company a “buy” rating in a research note on Monday. Bank of America set a $125.00 target price on American Express and gave the company a “buy” rating in a research note on Friday, October 19th. BMO Capital Markets lifted their target price on American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, July 19th. Jefferies Financial Group reissued a “hold” rating and set a $105.00 target price on shares of American Express in a research note on Monday, July 16th. Finally, Barclays lifted their target price on American Express from $113.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $112.70.
NYSE AXP opened at $105.21 on Tuesday. The company has a market cap of $88.60 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.40 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 1-year low of $87.54 and a 1-year high of $111.77.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS. As a group, research analysts forecast that American Express will post 7.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, October 4th. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is currently 26.58%.
In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the completion of the transaction, the chairman now owns 209,957 shares in the company, valued at approximately $21,801,934.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott Murcray purchased 350,000 shares of the business’s stock in a transaction on Monday, September 3rd. The shares were purchased at an average price of $0.28 per share, with a total value of $98,000.00. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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