Callahan Advisors LLC Lowers Holdings in American Express (NYSE:AXP)

Callahan Advisors LLC lessened its stake in American Express (NYSE:AXP) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,825 shares of the payment services company’s stock after selling 75 shares during the quarter. Callahan Advisors LLC’s holdings in American Express were worth $4,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Sovereign Financial Group Inc. raised its position in 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 buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC raised its position in American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after buying an additional 40 shares during the last quarter. Concord Wealth Partners raised its position in American Express by 10.5% in the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after buying an additional 40 shares during the last quarter. Sawgrass Asset Management LLC raised its position in 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 buying an additional 41 shares during the last quarter. Finally, Godsey & Gibb Inc. raised its position in American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.2 %

American Express stock opened at $276.08 on Wednesday. The stock has a market cap of $194.48 billion, a P/E ratio of 20.31, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1 year low of $151.51 and a 1 year high of $286.36. The firm’s 50 day moving average price is $266.76 and its 200-day moving average price is $248.34.

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. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 earnings per share. On average, equities analysts predict that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Insider Buying and Selling

In related news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was 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 owns 111,656 shares in the company, 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 currently owned by company insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price target 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. Wells Fargo & Company boosted their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. Finally, Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $253.09.

About American Express

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.