SRN Advisors LLC Decreases Holdings in American Express (NYSE:AXP)

SRN Advisors LLC trimmed its position in shares of American Express (NYSE:AXP) by 27.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,990 shares of the payment services company’s stock after selling 1,156 shares during the quarter. SRN Advisors LLC’s holdings in American Express were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. Kathmere Capital Management LLC purchased a new stake in shares of American Express during the 1st quarter valued at about $242,000. Vicus Capital bought a new stake in shares of American Express during the 1st quarter valued at $299,000. CRA Financial Services LLC purchased a new stake in shares of American Express in the 1st quarter worth $232,000. Cornerstone Wealth Group LLC raised its holdings in American Express by 11.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,347 shares of the payment services company’s stock worth $762,000 after purchasing an additional 332 shares during the period. Finally, Roberts Wealth Advisors LLC purchased a new position in American Express during the first quarter valued at $207,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction of $21,049,740.62. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXP. JPMorgan Chase & Co. cut 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 report on Monday, October 7th. Royal Bank of Canada increased their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Compass Point started 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. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $253.09.

American Express Stock Down 1.0 %

NYSE AXP opened at $267.35 on Friday. The stock has a 50 day moving average price of $263.88 and a 200-day moving average price of $245.57. American Express has a one year low of $141.02 and a one year high of $286.36. 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. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

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 the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same quarter last year, the business earned $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.05%. American Express’s dividend payout ratio is currently 23.06%.

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.