American Express (AXP) Holdings Decreased by Front Barnett Associates LLC

Front Barnett Associates LLC decreased its stake in shares of American Express (NYSE:AXP) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,837 shares of the payment services company’s stock after selling 2,772 shares during the quarter. American Express comprises about 1.4% of Front Barnett Associates LLC’s portfolio, making the stock its 28th biggest holding. Front Barnett Associates LLC’s holdings in American Express were worth $9,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Motley Fool Asset Management LLC increased its position in shares of American Express by 16.3% during the 2nd quarter. Motley Fool Asset Management LLC now owns 9,314 shares of the payment services company’s stock worth $913,000 after purchasing an additional 1,307 shares during the last quarter. BlackRock Inc. increased its holdings in shares of American Express by 1.4% during the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after acquiring an additional 626,323 shares during the last quarter. Tiedemann Advisors LLC increased its holdings in shares of American Express by 55.4% during the 2nd quarter. Tiedemann Advisors LLC now owns 18,749 shares of the payment services company’s stock worth $1,837,000 after acquiring an additional 6,684 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of American Express by 251.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 136,187 shares of the payment services company’s stock worth $13,346,000 after acquiring an additional 97,384 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of American Express by 18.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,005 shares of the payment services company’s stock worth $490,000 after acquiring an additional 783 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AXP opened at $108.28 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58. American Express has a one year low of $87.54 and a one year high of $111.77. The firm has a market capitalization of $91.67 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.45 and a beta of 1.06.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period in the prior year, the firm posted $1.50 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that American Express will post 7.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.44%. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, October 4th. American Express’s dividend payout ratio is currently 26.58%.

In other news, CFO Scott Murcray acquired 350,000 shares of the firm’s stock in a transaction on Monday, September 3rd. The shares were purchased at an average cost of $0.28 per share, with a total value of $98,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc D. Gordon sold 25,948 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $107.83, for a total value of $2,797,972.84. Following the completion of the transaction, the insider now directly owns 33,111 shares in the company, valued at $3,570,359.13. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

A number of research analysts recently weighed in on the company. DZ Bank raised American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. UBS Group raised American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Royal Bank of Canada reissued a “sell” rating and set a $87.00 target price on shares of American Express in a report on Thursday, July 19th. BMO Capital Markets boosted their target price on American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. Finally, Wells Fargo & Co boosted their target price on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. One equities research 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 company has an average rating of “Buy” and an average price target of $112.70.

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

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