814 Shares in American Express (NYSE:AXP) Bought by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC acquired a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 814 shares of the payment services company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently modified their holdings of the business. Vicus Capital bought a new position in shares of American Express during the first quarter valued at approximately $299,000. Chapin Davis Inc. increased its position in American Express by 6.5% during the 1st quarter. Chapin Davis Inc. now owns 2,052 shares of the payment services company’s stock valued at $467,000 after buying an additional 126 shares in the last quarter. Kowal Investment Group LLC purchased a new position in American Express during the first quarter valued at $285,000. Claro Advisors LLC boosted its holdings in American Express by 11.9% in the first quarter. Claro Advisors LLC now owns 1,517 shares of the payment services company’s stock worth $345,000 after acquiring an additional 161 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of American Express by 1.6% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 30,028 shares of the payment services company’s stock worth $6,837,000 after acquiring an additional 485 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.12% of the stock is owned by corporate insiders.

American Express Price Performance

Shares of NYSE:AXP opened at $267.35 on Monday. The company has a market capitalization of $192.31 billion, a P/E ratio of 22.02, a P/E/G 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 firm’s 50 day simple moving average is $263.88 and its two-hundred day simple moving average is $245.77. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 EPS. American Express’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Morgan Stanley boosted their price objective on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Monness Crespi & Hardt lifted their target price on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $253.09.

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.