Providence Capital Advisors LLC Trims Stock Holdings in American Express (NYSE:AXP)

Providence Capital Advisors LLC decreased its holdings in American Express (NYSE:AXP) by 44.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 770 shares of the payment services company’s stock after selling 607 shares during the period. Providence Capital Advisors LLC’s holdings in American Express were worth $134,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Steward Financial Group LLC grew its stake in American Express by 104.9% during the first quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in American Express during the second quarter valued at approximately $35,000. Addison Advisors LLC grew its stake in American Express by 44.8% during the first quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Tilia Fiduciary Partners Inc. grew its stake in American Express by 80.7% during the first quarter. Tilia Fiduciary Partners Inc. now owns 300 shares of the payment services company’s stock valued at $49,000 after acquiring an additional 134 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new position in American Express during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of several recent analyst reports. Barclays initiated coverage on shares of American Express in a research note on Wednesday. They set an “overweight” rating and a $184.00 price objective for the company. TD Cowen assumed coverage on shares of American Express in a research note on Wednesday, November 1st. They set a “market perform” rating and a $158.00 price objective for the company. Citigroup upgraded shares of American Express from a “sell” rating to a “neutral” rating and lifted their target price for the company from $143.00 to $154.00 in a research report on Wednesday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of 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, Oppenheimer dropped their target price on shares of American Express from $190.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus target price of $171.25.

Insider Buying and Selling at American Express

In related news, Director Walter Joseph Clayton III acquired 1,000 shares of American Express stock in a transaction on Tuesday, October 24th. The shares were acquired at an average cost of $143.93 per share, with a total value of $143,930.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $287,860. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other American Express news, Director Walter Joseph Clayton III bought 1,000 shares of American Express stock in a transaction dated Tuesday, October 24th. The shares were purchased at an average cost of $143.93 per share, with a total value of $143,930.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $287,860. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $158.87, for a total transaction of $1,802,221.28. Following the completion of the sale, the insider now directly owns 88,376 shares in the company, valued at $14,040,295.12. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Trading Up 2.2 %

Shares of NYSE AXP traded up $3.51 during mid-day trading on Friday, hitting $162.56. The stock had a trading volume of 2,976,093 shares, compared to its average volume of 3,163,492. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.60 and a current ratio of 1.60. The business has a 50 day moving average price of $151.89 and a two-hundred day moving average price of $159.79. The firm has a market cap of $118.47 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $182.15.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.34. The business had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.36 billion. American Express had a net margin of 13.61% and a return on equity of 30.60%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 EPS. On average, equities analysts anticipate that American Express will post 11.19 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Thursday, October 5th. American Express’s payout ratio is currently 22.51%.

American Express 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.