American Express (NYSE:AXP) Shares Sold by Regatta Capital Group LLC

Regatta Capital Group LLC lessened its holdings in shares of American Express (NYSE:AXP) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,460 shares of the payment services company’s stock after selling 37 shares during the quarter. Regatta Capital Group LLC’s holdings in American Express were worth $667,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express in the 1st quarter worth about $433,709,000. Public Employees Retirement Association of Colorado lifted its position in American Express by 924.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Express by 8.5% during 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 buying an additional 662,382 shares during the period. M&G Plc acquired a new position in American Express during the 1st quarter worth $114,990,000. Finally, Canada Pension Plan Investment Board lifted its holdings in American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after purchasing an additional 486,755 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE AXP opened at $277.31 on Wednesday. The company’s fifty day moving average is $258.39 and its two-hundred day moving average is $242.87. The firm has a market capitalization of $199.47 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.50 and a beta of 1.21. 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 has a 52-week low of $140.91 and a 52-week high of $281.42.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 earnings per share. Equities research analysts forecast that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business 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. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.01%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. HSBC downgraded American Express from a “buy” rating to a “hold” rating and upped their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Monness Crespi & Hardt upped their price objective on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group upped their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $242.33.

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.