Accent Capital Management LLC Buys 6,194 Shares of American Express (NYSE:AXP)

Accent Capital Management LLC raised its holdings in shares of American Express (NYSE:AXP - Free Report) by 247.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,694 shares of the payment services company's stock after purchasing an additional 6,194 shares during the period. American Express comprises about 1.4% of Accent Capital Management LLC's portfolio, making the stock its 13th largest holding. Accent Capital Management LLC's holdings in American Express were worth $2,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AXP. Sovereign Financial Group Inc. increased its stake 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 valued at $398,000 after buying an additional 38 shares in the last quarter. Legacy Financial Strategies LLC increased its holdings in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company's stock valued at $443,000 after purchasing an additional 40 shares in the last quarter. Concord Wealth Partners lifted its holdings in American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company's stock worth $114,000 after buying an additional 40 shares in the last quarter. Sawgrass Asset Management LLC boosted its position 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 valued at $2,404,000 after buying an additional 41 shares during the last quarter. Finally, Godsey & Gibb Inc. increased its stake in shares of American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company's stock valued at $333,000 after buying an additional 41 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the firm's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares of the company's stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

American Express Price Performance

AXP stock traded down $1.43 during midday trading on Friday, reaching $286.87. The company had a trading volume of 2,614,568 shares, compared to its average volume of 2,934,763. The company has a market capitalization of $202.09 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1-year low of $157.97 and a 1-year high of $296.83. The stock has a 50 day moving average price of $272.31 and a 200-day moving average price of $251.20.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that American Express will post 13.47 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 4th. American Express's dividend payout ratio is 20.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Monness Crespi & Hardt raised their price target on American Express from $265.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 14th. HSBC downgraded shares of American Express from a "buy" rating to a "hold" rating and boosted their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Morgan Stanley lifted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Barclays lifted their price objective on American Express from $250.00 to $257.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered American Express from an "overweight" rating to a "neutral" rating and increased their target price for the company from $268.00 to $286.00 in a research note 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $253.09.

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.