Los Angeles Capital Management LLC Trims Stock Holdings in American Express (NYSE:AXP)

Los Angeles Capital Management LLC trimmed its holdings in American Express (NYSE:AXP) by 20.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 683,238 shares of the payment services company’s stock after selling 171,018 shares during the quarter. American Express accounts for about 0.7% of Los Angeles Capital Management LLC’s holdings, making the stock its 26th biggest holding. Los Angeles Capital Management LLC owned approximately 0.10% of American Express worth $185,294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. DHJJ Financial Advisors Ltd. lifted 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 last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Express during the 3rd quarter valued at about $46,000. Capital Performance Advisors LLP purchased a new stake in American Express in the 3rd quarter worth about $48,000. POM Investment Strategies LLC bought a new position in shares of American Express during the second quarter valued at approximately $42,000. Finally, Founders Capital Management purchased a new position in shares of American Express in the second quarter worth $46,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP stock traded up $0.78 on Friday, hitting $287.60. The company’s stock had a trading volume of 1,814,377 shares, compared to its average volume of 2,830,479. The firm has a 50 day moving average of $268.64 and a two-hundred day moving average of $249.39. American Express has a 1 year low of $152.05 and a 1 year high of $296.83. The stock has a market cap of $202.60 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

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

American Express Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on AXP. Monness Crespi & Hardt lifted their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays lifted their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Compass Point began coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, TD Cowen lifted their price objective on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.09.

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction 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 transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction 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 transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.