MAI Capital Management Has $17.49 Million Position in American Express (NYSE:AXP)

MAI Capital Management reduced its position in American Express (NYSE:AXP) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,476 shares of the payment services company’s stock after selling 714 shares during the quarter. MAI Capital Management’s holdings in American Express were worth $17,486,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. Boston Partners boosted its position in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in American Express by 0.5% in 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 acquiring an additional 7,676 shares during the period. abrdn plc increased its holdings 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 acquiring an additional 27,859 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of American Express by 2.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock worth $282,589,000 after purchasing an additional 23,487 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 77,887 shares of American Express 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 owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AXP. Evercore ISI lifted their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Barclays raised their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Morgan Stanley upped their price target on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $253.09.

American Express Trading Down 0.5 %

NYSE:AXP opened at $286.87 on Monday. The firm’s 50 day moving average is $272.31 and its 200 day moving average is $251.34. American Express has a 12 month low of $157.97 and a 12 month high of $296.83. The stock has a market capitalization of $202.09 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.64 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 (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. Sell-side analysts expect that American Express will post 13.47 earnings per share for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were given 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 yield of 0.98%. American Express’s dividend payout ratio is presently 20.60%.

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.