Strs Ohio trimmed its stake in shares of American Express (NYSE:AXP) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 675,610 shares of the payment services company’s stock after selling 5,805 shares during the quarter. Strs Ohio owned 0.08% of American Express worth $79,911,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC acquired a new stake in shares of American Express during the 3rd quarter worth approximately $27,000. HMS Capital Management LLC bought a new stake in American Express in the second quarter valued at $37,000. Enterprise Trust & Investment Co bought a new stake in American Express in the third quarter valued at $38,000. Edge Wealth Management LLC increased its stake in American Express by 140.3% in the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 216 shares in the last quarter. Finally, Virtus ETF Advisers LLC bought a new stake in American Express in the second quarter valued at $48,000. 83.90% of the stock is currently owned by institutional investors.
Shares of American Express stock traded up $1.59 on Monday, hitting $118.35. 754,533 shares of the company traded hands, compared to its average volume of 3,271,852. The stock has a market capitalization of $98.81 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The business has a 50-day simple moving average of $117.67 and a 200 day simple moving average of $119.68.
The firm also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 3rd. American Express’s dividend payout ratio (DPR) is presently 23.47%.
Several equities research analysts have recently commented on AXP shares. Oppenheimer set a $127.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Tuesday, October 15th. William Blair restated a “buy” rating on shares of American Express in a report on Friday. Cfra restated a “hold” rating on shares of American Express in a report on Friday. BMO Capital Markets boosted their target price on shares of American Express to $119.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada boosted their target price on shares of American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $124.29.
In related news, insider Paul D. Fabara sold 15,455 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total value of $1,963,712.30. Following the transaction, the insider now owns 35,931 shares in the company, valued at approximately $4,565,392.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the sale, the chief financial officer now owns 59,620 shares in the company, valued at approximately $7,447,134.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,500 shares of company stock valued at $4,618,653. 0.21% of the stock is owned by insiders.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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