Curi RMB Capital LLC Acquires 354 Shares of American Express (NYSE:AXP)

Curi RMB Capital LLC raised its holdings in shares of American Express (NYSE:AXP) by 18.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,299 shares of the payment services company’s stock after buying an additional 354 shares during the period. Curi RMB Capital LLC’s holdings in American Express were worth $623,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Boston Partners boosted its position in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of American Express by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock valued at $456,418,000 after buying an additional 7,676 shares during the period. abrdn plc boosted its position in shares of American Express by 2.2% during the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after buying an additional 27,859 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of American Express by 2.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock valued at $282,589,000 after purchasing an additional 23,487 shares during the period. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the firm’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 transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Stock Down 0.5 %

AXP stock opened at $286.80 on Friday. The company has a market cap of $202.04 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.65 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 12 month low of $157.97 and a 12 month high of $296.83. The firm has a 50-day moving average of $271.46 and a two-hundred day moving average of $250.75.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. As a group, analysts forecast that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.98%. American Express’s dividend payout ratio is currently 20.60%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AXP shares. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Monness Crespi & Hardt upped their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Barclays upped their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Evercore ISI upped 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. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $253.09.

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.