Hohimer Wealth Management LLC Has $1.57 Million Stock Position in American Express (NYSE:AXP)

Hohimer Wealth Management LLC boosted its stake in shares of American Express (NYSE:AXP) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,792 shares of the payment services company’s stock after purchasing an additional 149 shares during the quarter. Hohimer Wealth Management LLC’s holdings in American Express were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares during the period. FMR LLC grew its holdings in shares of American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after purchasing an additional 681,304 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after purchasing an additional 486,755 shares during the period. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Monness Crespi & Hardt boosted their price target on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and upped their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. TD Cowen raised their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Bank of America raised their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $259.45.

American Express Stock Performance

AXP stock opened at $302.16 on Wednesday. The company has a 50 day moving average price of $284.00 and a 200 day moving average price of $258.17. American Express has a fifty-two week low of $167.77 and a fifty-two week high of $307.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $212.86 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Analysts forecast that American Express will post 13.39 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,998 shares of company stock worth $26,423,439 in the last quarter. 0.11% of the stock is owned by company insiders.

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.