American Express (NYSE:AXP) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of American Express (NYSE:AXP - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,158 shares of the payment services company's stock after buying an additional 4,906 shares during the quarter. CIBC Asset Management Inc's holdings in American Express were worth $28,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XML Financial LLC grew its holdings in American Express by 9.8% during the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company's stock valued at $306,000 after purchasing an additional 101 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company's stock worth $8,993,000 after buying an additional 21,508 shares during the period. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of American Express by 2,196.4% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company's stock worth $1,909,000 after buying an additional 7,885 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in American Express by 33.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 54,318 shares of the payment services company's stock valued at $12,368,000 after acquiring an additional 13,520 shares during the period. Finally, Addison Advisors LLC grew its position in American Express by 41.3% in the 2nd quarter. Addison Advisors LLC now owns 701 shares of the payment services company's stock valued at $162,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

NYSE:AXP traded down $1.43 during trading hours on Friday, hitting $286.87. 2,614,568 shares of the company were exchanged, compared to its average volume of 2,906,965. 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 52-week low of $157.97 and a 52-week high of $296.83. The stock has a market capitalization of $202.09 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.65 and a beta of 1.21. The company's 50 day moving average price is $272.31 and its 200-day moving average price is $251.09.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Monness Crespi & Hardt upped their target price on shares of American Express from $265.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Barclays raised their price objective on American Express from $250.00 to $257.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Evercore ISI upped their target price on American Express from $275.00 to $290.00 and gave the stock an "in-line" rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, American Express currently has an average rating of "Hold" and a consensus price target of $253.09.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express 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 transaction, the insider now owns 111,656 shares of the company's stock, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated 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 sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

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.