Ledyard National Bank decreased its position in shares of American Express (NYSE:AXP) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,048 shares of the payment services company’s stock after selling 107 shares during the quarter. Ledyard National Bank’s holdings in American Express were worth $1,054,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Steward Financial Group LLC increased its stake in American Express by 104.9% in the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of American Express during the 2nd quarter valued at $35,000. Addison Advisors LLC grew its stake in shares of American Express by 44.8% during the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock worth $39,000 after acquiring an additional 74 shares during the period. Tilia Fiduciary Partners Inc. increased its holdings in American Express by 80.7% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 300 shares of the payment services company’s stock worth $49,000 after acquiring an additional 134 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new stake in American Express in the 3rd quarter valued at about $53,000. 83.08% of the stock is owned by institutional investors and hedge funds.
American Express Trading Down 0.1 %
Shares of AXP traded down $0.12 during mid-day trading on Thursday, reaching $159.31. The company’s stock had a trading volume of 524,359 shares, compared to its average volume of 3,149,241. American Express has a 52 week low of $140.91 and a 52 week high of $182.15. The stock has a market cap of $116.10 billion, a PE ratio of 14.95, a P/E/G ratio of 0.97 and a beta of 1.21. The company’s fifty day moving average price is $151.74 and its two-hundred day moving average price is $159.72. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.70.
American Express Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.40 annualized dividend and a yield of 1.51%. American Express’s payout ratio is currently 22.51%.
Analysts Set New Price Targets
Several research firms have recently weighed in on AXP. Barclays initiated coverage on shares of American Express in a research note on Wednesday. They issued an “overweight” rating and a $184.00 target price for the company. HSBC started coverage on shares of American Express in a research note on Friday, October 13th. They issued a “buy” rating and a $181.00 price objective for the company. Citigroup upgraded American Express from a “sell” rating to a “neutral” rating and increased their target price for the stock from $143.00 to $154.00 in a research report on Wednesday, October 25th. JPMorgan Chase & Co. reduced their price target on American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Finally, TD Cowen assumed coverage on American Express in a report on Wednesday, November 1st. They set a “market perform” rating and a $158.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $171.25.
Insiders Place Their Bets
In other news, Director Walter Joseph Clayton III bought 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was bought at an average cost of $143.93 per share, for a total transaction of $143,930.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $287,860. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.12% of the company’s stock.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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