Franklin Street Advisors Inc. NC Sells 9,117 Shares of American Express (NYSE:AXP)

by · The Cerbat Gem

Franklin Street Advisors Inc. NC decreased its position in shares of American Express (NYSE:AXP – Free Report) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,670 shares of the payment services company’s stock after selling 9,117 shares during the quarter. American Express makes up 1.7% of Franklin Street Advisors Inc. NC’s holdings, making the stock its 19th largest holding. Franklin Street Advisors Inc. NC’s holdings in American Express were worth $24,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sovereign Financial Group Inc. raised its holdings in shares of American Express by 2.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares in the last quarter. Sawgrass Asset Management LLC raised its holdings in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares in the last quarter. Davis Investment Partners LLC raised its holdings in shares of American Express by 0.5% in the 3rd quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock worth $2,170,000 after purchasing an additional 42 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 43 shares in the last quarter. Finally, Willner & Heller LLC raised its holdings in shares of American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.7 %

AXP traded up $1.89 during trading on Friday, reaching $272.36. 101,111 shares of the stock were exchanged, compared to its average volume of 2,908,137. The stock has a market cap of $193.62 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $276.79. The stock’s 50 day moving average price is $255.56 and its two-hundred day moving average price is $241.60. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP – Get Free Report) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the previous year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio is currently 20.90%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and boosted their price target for the company from $265.00 to $270.00 in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $268.00 to $286.00 in a report on Monday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $239.96.

Check Out Our Latest Stock Report on American Express

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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