American Express (NYSE:AXP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in American Express (NYSE:AXP) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,076,530 shares of the payment services company’s stock after selling 4,333 shares during the period. PNC Financial Services Group Inc. owned about 0.15% of American Express worth $291,955,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in American Express in the third quarter valued at $19,698,000. Banque Cantonale Vaudoise increased its stake in shares of American Express by 2.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 32,323 shares of the payment services company’s stock valued at $8,766,000 after acquiring an additional 743 shares during the last quarter. SouthState Corp increased its stake in shares of American Express by 3.1% during the 3rd quarter. SouthState Corp now owns 14,287 shares of the payment services company’s stock valued at $3,875,000 after acquiring an additional 433 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of American Express by 4.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 11,709 shares of the payment services company’s stock worth $3,175,000 after acquiring an additional 529 shares during the last quarter. Finally, Smead Capital Management Inc. grew its holdings in American Express by 3.5% in the third quarter. Smead Capital Management Inc. now owns 1,629,480 shares of the payment services company’s stock valued at $441,915,000 after purchasing an additional 54,958 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated 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 sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred 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 completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

American Express Price Performance

AXP stock opened at $285.54 on Tuesday. The stock’s 50 day moving average is $273.01 and its two-hundred day moving average is $251.72. American Express has a 52-week low of $161.73 and a 52-week high of $296.83. The company has a market capitalization of $201.15 billion, a PE ratio of 21.01, a P/E/G ratio of 1.63 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that American Express will post 13.47 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio is currently 20.60%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley raised their price objective on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Barclays increased their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $253.09.

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.