American Express (NYSE:AXP) Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC grew its position in American Express (NYSE:AXP) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,912 shares of the payment services company’s stock after acquiring an additional 630 shares during the quarter. Kestra Investment Management LLC’s holdings in American Express were worth $1,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in shares of American Express by 26,783.5% in the 3rd 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 buying an additional 906,353 shares during the period. FMR LLC raised its position in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in American Express by 924.2% in 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 acquiring an additional 768,301 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of American Express by 59,816.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of American Express by 71.9% during the 2nd 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 currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE:AXP opened at $304.68 on Monday. The company has a market cap of $214.63 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.74 and a beta of 1.21. The business has a fifty day simple moving average of $280.04 and a 200-day simple moving average of $255.61. American Express has a 52 week low of $165.93 and a 52 week high of $307.82. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

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, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same period last year, the company earned $3.30 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.39 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’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 completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on AXP shares. Bank of America boosted their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Monness Crespi & Hardt raised their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $253.09.

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.