Custom Index Systems LLC Has $725,000 Holdings in American Express (NYSE:AXP)

Custom Index Systems LLC raised its stake in shares of American Express (NYSE:AXP) by 77.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,673 shares of the payment services company’s stock after acquiring an additional 1,166 shares during the quarter. Custom Index Systems LLC’s holdings in American Express were worth $725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kathmere Capital Management LLC bought a new position in shares of American Express in the first quarter valued at approximately $242,000. Vicus Capital acquired a new position in American Express during the 1st quarter worth $299,000. CRA Financial Services LLC bought a new stake in American Express during the first quarter valued at about $232,000. Cornerstone Wealth Group LLC grew its position in shares of American Express by 11.0% in the first quarter. Cornerstone Wealth Group LLC now owns 3,347 shares of the payment services company’s stock valued at $762,000 after purchasing an additional 332 shares during the last quarter. Finally, Roberts Wealth Advisors LLC bought a new position in shares of American Express in the first quarter worth about $207,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXP. Jefferies Financial Group raised their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. Finally, Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.09.

American Express Price Performance

NYSE:AXP traded down $2.63 on Friday, reaching $267.35. The stock had a trading volume of 2,993,298 shares, compared to its average volume of 2,933,059. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $192.31 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 1-year low of $141.02 and a 1-year high of $286.36. The stock has a fifty day moving average price of $263.88 and a 200-day moving average price of $245.57.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates 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 32.94% and a net margin of 15.53%. American Express’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 EPS. Research analysts forecast that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 $30,176,150.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.12% of the stock is owned by company insiders.

American Express 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.