Grandfield & Dodd LLC cut its stake in American Express Company (NYSE:AXP) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,429 shares of the payment services company’s stock after selling 3,119 shares during the quarter. Grandfield & Dodd LLC’s holdings in American Express were worth $2,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MCF Advisors LLC increased its position in shares of American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares during the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express during the 2nd quarter worth about $115,000. MV Capital Management Inc. increased its position in shares of American Express by 3.5% during the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after purchasing an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the last quarter. 83.35% of the stock is owned by institutional investors and hedge funds.

American Express Company (NYSE AXP) opened at $99.15 on Wednesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $86,521.86, a PE ratio of 19.10, a PEG ratio of 1.66 and a beta of 1.22. American Express Company has a 52 week low of $73.50 and a 52 week high of $100.53.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. sell-side analysts expect that American Express Company will post 5.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is presently 26.97%.

A number of analysts recently issued reports on the company. Bank of America set a $128.00 price objective on American Express and gave the stock a “buy” rating in a research report on Monday. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Wednesday, November 1st. Atlantic Securities raised American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective for the company in a research report on Tuesday, October 24th. Finally, Stephens set a $89.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.44.

In other news, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the transaction, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Insiders sold a total of 440,310 shares of company stock valued at $42,478,329 in the last quarter. Company insiders own 0.67% of the company’s stock.

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American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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

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