Rebalance LLC Sells 273 Shares of American Express (NYSE:AXP)

Rebalance LLC decreased its position in shares of American Express (NYSE:AXP) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,585 shares of the payment services company’s stock after selling 273 shares during the quarter. Rebalance LLC’s holdings in American Express were worth $430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. raised its holdings in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. Riverview Trust Co bought a new stake in American Express during the 1st quarter valued at $38,000. BNP Paribas bought a new stake in American Express during the first quarter worth $40,000. POM Investment Strategies LLC purchased a new stake in shares of American Express in the second quarter valued at about $42,000. Finally, Founders Capital Management bought a new position in shares of American Express during the second quarter valued at about $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AXP. Monness Crespi & Hardt raised their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. TD Cowen raised their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday. Finally, Morgan Stanley increased their price target on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $244.58.

American Express Trading Down 0.1 %

Shares of American Express stock traded down $0.35 on Wednesday, hitting $272.05. 653,701 shares of the company traded hands, compared to its average volume of 2,922,078. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 52 week low of $141.02 and a 52 week high of $286.36. The company has a market cap of $195.69 billion, a PE ratio of 22.43, a PEG ratio of 1.50 and a beta of 1.21. The stock’s 50 day moving average price is $262.61 and its 200-day moving average price is $244.73.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts predict that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

American Express Company 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.