American Express (NYSE:AXP) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its holdings in American Express (NYSE:AXP) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,852 shares of the payment services company’s stock after selling 397 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in American Express were worth $3,757,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in American Express in the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the 4th quarter worth about $29,000. Game Plan Financial Advisors LLC lifted its stake in shares of American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of American Express during the fourth quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC bought a new stake in American Express during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada increased their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $231.43.

American Express Stock Performance

AXP stock opened at $268.73 on Friday. The firm has a 50 day simple moving average of $253.31 and a 200 day simple moving average of $239.97. American Express has a 52 week low of $140.91 and a 52 week high of $272.68. The stock has a market cap of $193.30 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the company posted $2.89 EPS. American Express’s revenue was up 9.2% on a year-over-year basis. Research analysts anticipate that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s 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.