Chartwell Investment Partners LLC Sells 8,246 Shares of American Express (NYSE:AXP)

Chartwell Investment Partners LLC trimmed its position in American Express (NYSE:AXP) by 37.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,533 shares of the payment services company’s stock after selling 8,246 shares during the period. Chartwell Investment Partners LLC’s holdings in American Express were worth $2,019,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Accurate Wealth Management LLC lifted its stake in shares of American Express by 4.1% in the 2nd quarter. Accurate Wealth Management LLC now owns 1,588 shares of the payment services company’s stock valued at $275,000 after acquiring an additional 63 shares during the last quarter. Blume Capital Management Inc. lifted its stake in shares of American Express by 3.1% in the 2nd quarter. Blume Capital Management Inc. now owns 2,112 shares of the payment services company’s stock valued at $368,000 after acquiring an additional 63 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of American Express by 2.1% in the 2nd quarter. CWA Asset Management Group LLC now owns 3,198 shares of the payment services company’s stock valued at $557,000 after acquiring an additional 65 shares during the last quarter. Strategy Asset Managers LLC lifted its stake in shares of American Express by 3.7% in the 2nd quarter. Strategy Asset Managers LLC now owns 1,818 shares of the payment services company’s stock valued at $317,000 after acquiring an additional 65 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of American Express by 1.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock valued at $1,041,000 after acquiring an additional 65 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at approximately $2,522,816.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Express news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of American Express stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the completion of the transaction, the insider now owns 125,646 shares in the company, valued at approximately $21,149,991.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,381 shares of company stock worth $6,769,954. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $148.00 to $193.00 in a research report on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on American Express from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Barclays raised their target price on American Express from $216.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Oppenheimer raised their target price on American Express from $208.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Robert W. Baird lowered American Express from a “neutral” rating to an “underperform” rating and set a $190.00 target price for the company. in a research report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $186.39.

Read Our Latest Analysis on AXP

American Express Stock Performance

Shares of AXP opened at $206.41 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.75 and a quick ratio of 1.60. The stock has a 50-day moving average of $183.03 and a 200-day moving average of $166.35. The company has a market cap of $150.43 billion, a PE ratio of 18.41, a P/E/G ratio of 1.11 and a beta of 1.23. American Express has a one year low of $140.91 and a one year high of $206.97.

American Express (NYSE:AXPGet Free Report) last issued its earnings results on Friday, January 26th. The payment services company reported $2.62 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.02). The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16 billion. American Express had a net margin of 13.84% and a return on equity of 31.01%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. On average, equities research analysts predict that American Express will post 12.79 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. American Express’s dividend payout ratio (DPR) is currently 21.41%.

American Express Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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