American Express (NYSE:AXP) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in shares of American Express (NYSE:AXP) by 41.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,905 shares of the payment services company’s stock after purchasing an additional 1,730 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Express were worth $1,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sovereign Financial Group Inc. increased its position in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC increased its position in American Express by 2.5% during the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after buying an additional 40 shares during the period. Concord Wealth Partners lifted its stake in American Express by 10.5% in the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after buying an additional 40 shares during the last quarter. Sawgrass Asset Management LLC boosted its holdings in shares of American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares during the period. Finally, Godsey & Gibb Inc. grew its position in shares of American Express by 3.5% during the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $272.69 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $192.10 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The firm has a 50-day moving average price of $266.02 and a two-hundred day moving average price of $247.66. American Express has a twelve month low of $148.33 and a twelve month high of $286.36.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.30 EPS. As a group, research analysts expect that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Wall Street Analyst Weigh In

AXP has been the subject of several research reports. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Compass Point began coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Finally, HSBC cut American Express from a “buy” rating to a “hold” rating and upped their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $253.09.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on 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 sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % 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 corporate insiders.

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.