KBC Group NV Sells 429,593 Shares of American Express (NYSE:AXP)

KBC Group NV lessened its holdings in shares of American Express (NYSE:AXP) by 39.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 664,290 shares of the payment services company’s stock after selling 429,593 shares during the quarter. American Express makes up approximately 0.5% of KBC Group NV’s investment portfolio, making the stock its 29th largest position. KBC Group NV’s holdings in American Express were worth $180,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new position in shares of American Express in the third quarter valued at $29,000. DHJJ Financial Advisors Ltd. raised its holdings in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the period. POM Investment Strategies LLC bought a new stake in shares of American Express during the second quarter worth approximately $42,000. Founders Capital Management acquired a new position in shares of American Express in the second quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of American Express during the third quarter worth approximately $46,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $287.64 on Thursday. 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 $156.03 and a 12-month high of $296.83. The firm has a market capitalization of $202.63 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The firm has a 50 day moving average of $270.01 and a 200 day moving average of $250.23.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the company earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.97%. American Express’s payout ratio is 20.60%.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $29,724,067.18. This represents 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 through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the business’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 completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. HSBC cut American Express from a “buy” rating to a “hold” rating and lifted their price objective for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Morgan Stanley raised their price target on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price 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.