Parkside Financial Bank & Trust Sells 841 Shares of American Express (NYSE:AXP)

Parkside Financial Bank & Trust reduced its holdings in shares of American Express (NYSE:AXP) by 15.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,433 shares of the payment services company’s stock after selling 841 shares during the period. Parkside Financial Bank & Trust’s holdings in American Express were worth $524,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AXP. Fisher Asset Management LLC raised its position in American Express by 19.8% during the 3rd quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock valued at $1,609,248,000 after purchasing an additional 2,252,720 shares in the last quarter. Magellan Asset Management Ltd raised its position in American Express by 212,845.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after purchasing 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% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after acquiring an additional 6,587,148 shares during the period. Parnassus Investments CA increased its holdings in shares of American Express by 1.4% in the 3rd quarter. Parnassus Investments CA now owns 6,193,957 shares of the payment services company’s stock valued at $732,621,000 after acquiring an additional 85,419 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of American Express by 5.9% in the 2nd quarter. Invesco Ltd. now owns 5,706,357 shares of the payment services company’s stock valued at $704,392,000 after acquiring an additional 319,389 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

AXP stock traded up $0.19 on Friday, hitting $121.47. 1,953,078 shares of the company’s stock were exchanged, compared to its average volume of 3,349,832. American Express has a 12-month low of $89.05 and a 12-month high of $129.34. The firm has a 50 day moving average price of $117.31 and a two-hundred day moving average price of $120.44. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market cap of $97.19 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.01. American Express had a return on equity of 29.68% and a net margin of 16.51%. The firm had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $1.88 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that American Express will post 8.16 earnings per share for the current fiscal year.

The firm also recently announced a 0.39000 dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio (DPR) is 23.47%.

A number of research analysts have recently issued reports on AXP shares. William Blair reiterated a “buy” rating on shares of American Express in a report on Friday, October 18th. BMO Capital Markets lifted their price target on American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on American Express from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Oppenheimer set a $126.00 price target on American Express and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada lifted their price target on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Two 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 company. American Express has a consensus rating of “Hold” and a consensus target price of $124.96.

In related news, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $23,619,732.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Theodore Leonsis sold 8,420 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the transaction, the director now owns 11,580 shares in the company, valued at $1,348,375.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,820 shares of company stock worth $3,039,511. 0.21% of the stock is owned by company insiders.

American Express Profile

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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