Ledyard National Bank Has $1.05 Million Stock Position in American Express (NYSE:AXP)

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 (NYSE:AXP) last posted its quarterly earnings results on Friday, October 20th. The payment services company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.34. American Express had a return on equity of 30.60% and a net margin of 13.61%. The business had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.36 billion. During the same period last year, the company earned $2.47 EPS. American Express’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts predict that American Express will post 11.18 earnings per share for the current fiscal year.

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.