Sequoia Financial Advisors LLC Has $5.28 Million Stock Holdings in American Express (NYSE:AXP)

Sequoia Financial Advisors LLC lessened its holdings in American Express (NYSE:AXP) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,609 shares of the payment services company’s stock after selling 3,888 shares during the period. Sequoia Financial Advisors LLC’s holdings in American Express were worth $5,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Magellan Asset Management Ltd increased its holdings in shares of American Express by 212,845.6% during the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after buying an additional 9,575,925 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of American Express by 1,759.0% during the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after buying an additional 6,587,148 shares in the last quarter. Morgan Stanley increased its holdings in shares of American Express by 16.2% during the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock worth $648,492,000 after buying an additional 731,450 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of American Express by 3,750.4% during the second quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock worth $61,028,000 after buying an additional 481,554 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of American Express by 3.5% during the second quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock worth $1,401,376,000 after buying an additional 381,084 shares in the last quarter. 83.90% of the stock is owned by institutional investors.

Several analysts have recently weighed in on AXP shares. BMO Capital Markets raised their price objective on shares of American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday. Cfra reissued a “hold” rating on shares of American Express in a research note on Friday. Deutsche Bank started coverage on shares of American Express in a research note on Monday, July 8th. They set a “buy” rating and a $142.00 price target on the stock. Morgan Stanley set a $142.00 price target on shares of American Express and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer set a $127.00 price target on shares of American Express and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.56.

In other news, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey C. Campbell sold 7,045 shares of American Express stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total transaction of $879,990.95. Following the transaction, the chief financial officer now directly owns 59,620 shares in the company, valued at $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 worth $4,618,653. Insiders own 0.21% of the company’s stock.

AXP stock traded down $0.11 during midday trading on Tuesday, reaching $118.94. The company’s stock had a trading volume of 86,882 shares, compared to its average volume of 3,314,359. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The stock has a market cap of $96.87 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.52. The business’s 50-day simple moving average is $117.47 and its 200-day simple moving average is $119.78.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. American Express had a net margin of 16.51% and a return on equity of 29.69%. The firm had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the firm earned $1.88 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that American Express will post 8.15 earnings per share for the current fiscal year.

The firm also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.43 dividend. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s payout ratio is presently 23.47%.

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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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