Salomon & Ludwin LLC Sells 78 Shares of American Express (NYSE:AXP)

Salomon & Ludwin LLC decreased its holdings in shares of American Express (NYSE:AXP) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351 shares of the payment services company’s stock after selling 78 shares during the quarter. Salomon & Ludwin LLC’s holdings in American Express were worth $95,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AXP. DHJJ Financial Advisors Ltd. grew its position in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares during the last quarter. BNP Paribas bought a new stake in shares of American Express during the first quarter worth about $40,000. POM Investment Strategies LLC acquired a new position in shares of American Express in the second quarter valued at approximately $42,000. Founders Capital Management bought a new position in American Express in the 2nd quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $271.60 on Tuesday. The company has a market cap of $195.36 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.50 and a beta of 1.21. The company’s fifty day moving average price is $264.23 and its two-hundred day moving average price is $246.14. American Express has a 1-year low of $141.73 and a 1-year high of $286.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 EPS. On average, analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Analysts Set New Price Targets

AXP has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their target price on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insider Buying and Selling at American Express

In other 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 value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.12% of the company’s stock.

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.