Pinnacle Financial Partners Inc Buys 1,106 Shares of American Express (NYSE:AXP)

Pinnacle Financial Partners Inc increased its position in shares of American Express (NYSE:AXP) by 0.7% during the 3rd quarter, Holdings Channel reports. The fund owned 165,664 shares of the payment services company’s stock after buying an additional 1,106 shares during the quarter. American Express accounts for about 0.9% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 20th biggest holding. Pinnacle Financial Partners Inc’s holdings in American Express were worth $44,928,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. grew its stake in American Express by 14.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,272 shares of the payment services company’s stock valued at $517,000 after acquiring an additional 282 shares during the period. Koshinski Asset Management Inc. grew its position in shares of American Express by 2.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,131 shares of the payment services company’s stock valued at $941,000 after purchasing an additional 107 shares during the period. Texas Yale Capital Corp. grew its position in shares of American Express by 2.1% in the 1st quarter. Texas Yale Capital Corp. now owns 2,916 shares of the payment services company’s stock valued at $664,000 after purchasing an additional 60 shares during the period. Planning Directions Inc. acquired a new stake in American Express during the 1st quarter worth approximately $206,000. Finally, Kingsview Wealth Management LLC raised its holdings in American Express by 0.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 19,178 shares of the payment services company’s stock worth $4,367,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXP. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. TD Cowen increased their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Finally, Morgan Stanley boosted their target price on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $253.09.

American Express Trading Down 1.5 %

Shares of NYSE:AXP opened at $288.60 on Wednesday. American Express has a 52-week low of $153.50 and a 52-week high of $296.83. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $203.30 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21. The company has a 50-day simple moving average of $270.01 and a 200 day simple moving average of $250.23.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the prior year, the company earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is presently 20.60%.

American Express Profile

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.