American Express (NYSE:AXP) Shares Sold by Beaumont Financial Advisors LLC

by · The Cerbat Gem

Beaumont Financial Advisors LLC decreased its holdings in shares of American Express (NYSE:AXP) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,369 shares of the payment services company’s stock after selling 368 shares during the period. Beaumont Financial Advisors LLC’s holdings in American Express were worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares in the last quarter. TD Asset Management Inc lifted its position in shares of American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after acquiring an additional 195,876 shares in the last quarter. Boston Partners lifted its holdings in shares of American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in American Express during the 1st quarter worth about $433,709,000. Finally, Nordea Investment Management AB grew its stake in American Express by 14.2% during the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after acquiring an additional 224,079 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 0.4 %

NYSE AXP opened at $270.46 on Friday. The firm has a 50-day simple moving average of $255.56 and a 200 day simple moving average of $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. The stock has a market cap of $192.27 billion, a PE ratio of 20.18, a PEG 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.

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

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.90%.

Analysts Set New Price Targets

Several analysts recently commented on AXP shares. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Tuesday. Bank of America increased their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. 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. Monness Crespi & Hardt increased their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday. 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 MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $239.96.

View Our Latest Stock Analysis on AXP

About American Express

(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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