Brown Brothers Harriman & Co. Lowers Holdings in American Express (NYSE:AXP)

Brown Brothers Harriman & Co. trimmed its holdings in American Express (NYSE:AXP) by 6.2% in the 4th quarter, HoldingsChannel reports. The fund owned 42,142 shares of the payment services company’s stock after selling 2,784 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in American Express were worth $7,895,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of American Express during the third quarter worth $3,290,000. Virtus ETF Advisers LLC purchased a new position in shares of American Express during the third quarter worth $654,000. Summit Financial LLC boosted its position in shares of American Express by 1.7% during the third quarter. Summit Financial LLC now owns 4,044 shares of the payment services company’s stock worth $603,000 after buying an additional 67 shares during the period. United Asset Strategies Inc. boosted its position in shares of American Express by 4.2% during the third quarter. United Asset Strategies Inc. now owns 8,941 shares of the payment services company’s stock worth $1,334,000 after buying an additional 359 shares during the period. Finally, Keybank National Association OH boosted its position in shares of American Express by 7.4% during the third quarter. Keybank National Association OH now owns 295,025 shares of the payment services company’s stock worth $44,015,000 after buying an additional 20,453 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock traded up $2.78 on Friday, hitting $240.00. The stock had a trading volume of 5,102,491 shares, compared to its average volume of 2,292,172. American Express has a 52-week low of $140.91 and a 52-week high of $244.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The stock has a market cap of $172.63 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.36 and a beta of 1.20. The company’s 50 day moving average price is $231.76 and its 200 day moving average price is $207.20.

American Express (NYSE:AXPGet Free Report) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. During the same period in the previous year, the business earned $2.40 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.17%. American Express’s dividend payout ratio is currently 23.06%.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the transaction, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock valued at $41,680,999 in the last ninety days. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Robert W. Baird boosted their target price on American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. BMO Capital Markets boosted their target price on American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research note on Monday, April 22nd. Royal Bank of Canada boosted their target price on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI boosted their target price on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $215.00.

Read Our Latest Report on AXP

American Express Company Profile

(Free Report)

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.

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

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