American Express (NYSE:AXP) Shares Sold by Community Bank N.A.

Community Bank N.A. reduced its position in shares of American Express (NYSE:AXP) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,513 shares of the payment services company’s stock after selling 969 shares during the period. Community Bank N.A.’s holdings in American Express were worth $1,220,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of American Express by 3.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,778 shares of the payment services company’s stock valued at $2,581,000 after purchasing an additional 480 shares during the period. Carret Asset Management LLC raised its stake in shares of American Express by 0.5% during the fourth quarter. Carret Asset Management LLC now owns 58,124 shares of the payment services company’s stock valued at $10,889,000 after purchasing an additional 289 shares during the period. Wynn Capital LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $2,682,000. Bfsg LLC raised its stake in shares of American Express by 1.4% during the fourth quarter. Bfsg LLC now owns 21,124 shares of the payment services company’s stock valued at $3,957,000 after purchasing an additional 301 shares during the period. Finally, Fountainhead AM LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $224,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

Shares of NYSE AXP traded down $0.83 during midday trading on Thursday, reaching $238.29. 1,657,371 shares of the company were exchanged, compared to its average volume of 3,176,327. The stock’s 50-day moving average price is $221.62 and its 200-day moving average price is $190.53. The stock has a market cap of $171.40 billion, a P/E ratio of 19.59, a PEG ratio of 1.36 and a beta of 1.23. American Express has a one year low of $140.91 and a one year high of $240.55. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. American Express’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.40 earnings per share. On average, sell-side analysts anticipate that American Express will post 12.98 earnings per share for the current fiscal year.

American Express Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 annualized dividend and a yield of 0.17%. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent analyst reports. TD Cowen raised their price target on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research report on Monday. Monness Crespi & Hardt raised shares of American Express from a “neutral” rating to a “buy” rating and set a $245.00 price objective for the company in a report on Friday, April 5th. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. UBS Group raised their target price on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets upped their price target on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $209.52.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other American Express news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock worth $36,528,388 over the last quarter. Company insiders own 0.12% of the company’s stock.

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.