934 Shares in American Express (NYSE:AXP) Acquired by West Michigan Advisors LLC

West Michigan Advisors LLC acquired a new stake in American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 934 shares of the payment services company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Sovereign Financial Group Inc. grew its holdings in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares during the last quarter. Legacy Financial Strategies LLC boosted 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 valued at $443,000 after buying an additional 40 shares during the period. Sawgrass Asset Management LLC grew its stake 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 acquiring an additional 41 shares in the last quarter. Godsey & Gibb Inc. increased its holdings in American Express by 3.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after purchasing an additional 41 shares during the period. Finally, Davis Investment Partners LLC increased its stake in shares of American Express by 0.5% during the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 1.0 %

Shares of AXP opened at $267.23 on Friday. The company has a market capitalization of $192.22 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.50 and a beta of 1.21. American Express has a 52 week low of $141.02 and a 52 week high of $286.36. The stock’s 50-day moving average price is $263.57 and its 200-day moving average price is $245.09. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. On average, sell-side analysts predict that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.05%. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research reports. TD Cowen upped their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company upped their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.09.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.12% of the company’s stock.

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.