State of Alaska Department of Revenue Reduces Holdings in American Express Company $AXP

State of Alaska Department of Revenue reduced its position in American Express Company (NYSE:AXP) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,600 shares of the payment services company’s stock after selling 3,651 shares during the quarter. State of Alaska Department of Revenue’s holdings in American Express were worth $24,778,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Briaud Financial Planning Inc purchased a new position in American Express during the second quarter valued at $26,000. Access Investment Management LLC purchased a new stake in American Express in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC raised its stake in American Express by 210.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 59 shares during the period. Chung Wu Investment Group LLC bought a new position in shares of American Express during the second quarter worth $37,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of American Express in the second quarter worth about $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXP has been the topic of a number of analyst reports. HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a research note on Friday, October 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $420.00 price objective on shares of American Express in a report on Tuesday. Compass Point reiterated a “neutral” rating and set a $324.00 price objective on shares of American Express in a research note on Monday, October 20th. Barclays increased their target price on American Express from $355.00 to $367.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Evercore ISI set a $400.00 price objective on shares of American Express in a research note on Tuesday. Nine research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $343.95.

American Express Trading Up 1.2%

Shares of AXP stock opened at $382.88 on Friday. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49. The firm has a market capitalization of $263.75 billion, a PE ratio of 25.70, a P/E/G ratio of 1.58 and a beta of 1.15. The business’s fifty day moving average price is $368.75 and its 200 day moving average price is $338.92. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

American Express (NYSE:AXP) last released its earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing the consensus estimate of $3.56 by ($15.41). The business had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s dividend payout ratio is currently 22.01%.

Insider Buying and Selling at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 57,515 shares of company stock valued at $20,658,509 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.