American Express (NYSE:AXP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,076,530 shares of the payment services company's stock after selling 4,333 shares during the quarter. PNC Financial Services Group Inc. owned about 0.15% of American Express worth $291,955,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in American Express in the 3rd quarter valued at $19,698,000. Banque Cantonale Vaudoise boosted its position in shares of American Express by 2.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 32,323 shares of the payment services company's stock valued at $8,766,000 after acquiring an additional 743 shares during the last quarter. SouthState Corp grew its holdings in shares of American Express by 3.1% in the third quarter. SouthState Corp now owns 14,287 shares of the payment services company's stock valued at $3,875,000 after purchasing an additional 433 shares during the period. Fifth Third Wealth Advisors LLC increased its position in American Express by 4.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,709 shares of the payment services company's stock worth $3,175,000 after purchasing an additional 529 shares during the last quarter. Finally, Smead Capital Management Inc. raised its stake in American Express by 3.5% during the third quarter. Smead Capital Management Inc. now owns 1,629,480 shares of the payment services company's stock worth $441,915,000 after purchasing an additional 54,958 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now owns 111,656 shares of the company's stock, valued at approximately $30,176,150.56. This represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXP. Evercore ISI raised their price target on shares of American Express from $275.00 to $290.00 and gave the stock an "in-line" rating in a report on Monday, October 7th. Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Hsbc Global Res cut American Express from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on shares of American Express from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Finally, TD Cowen increased their target price on shares of American Express from $260.00 to $268.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $253.09.

American Express Stock Performance

NYSE:AXP remained flat at $285.54 during trading hours on Tuesday. The company had a trading volume of 2,494,392 shares, compared to its average volume of 2,901,408. The company has a market capitalization of $201.15 billion, a PE ratio of 21.08, a P/E/G ratio of 1.63 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. The company has a 50-day simple moving average of $273.01 and a two-hundred day simple moving average of $251.72. American Express has a 52-week low of $161.73 and a 52-week high of $296.83.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share 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 32.46% and a net margin of 15.32%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.30 EPS. On average, sell-side analysts forecast that American Express will post 13.47 earnings per share for the current year.

American Express Dividend Announcement

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

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.