McAdam LLC Sells 613 Shares of American Express (NYSE:AXP)

McAdam LLC cut its holdings in American Express (NYSE:AXP) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 6,596 shares of the payment services company’s stock after selling 613 shares during the period. McAdam LLC’s holdings in American Express were worth $1,789,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. raised its position in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. BNP Paribas acquired a new position in American Express in the 1st quarter valued at $40,000. POM Investment Strategies LLC bought a new position in American Express in the 2nd quarter worth $42,000. Founders Capital Management acquired a new position in American Express during the 2nd quarter worth $46,000. Finally, Beacon Capital Management LLC boosted its holdings in American Express by 162.1% during the first quarter. Beacon Capital Management LLC now owns 228 shares of the payment services company’s stock valued at $52,000 after acquiring an additional 141 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Down 0.4 %

Shares of American Express stock opened at $271.22 on Thursday. American Express has a 12-month low of $141.02 and a 12-month high of $286.36. The stock has a market capitalization of $195.09 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a 50-day simple moving average of $263.16 and a 200 day simple moving average of $244.92. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same quarter last year, the business posted $3.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s payout ratio is 23.06%.

Analyst Ratings Changes

AXP has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Evercore ISI increased their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada raised their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $244.58.

About American Express

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.