Ghe LLC Purchases Shares of 16,574 American Express (NYSE:AXP)

GHE LLC bought a new position in American Express (NYSE:AXP - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,574 shares of the payment services company's stock, valued at approximately $4,495,000. American Express accounts for about 1.9% of GHE LLC's holdings, making the stock its 11th largest holding.

Several other hedge funds also recently bought and sold shares of AXP. Price T Rowe Associates Inc. MD boosted its position in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company's stock worth $1,923,399,000 after acquiring an additional 662,382 shares during the last quarter. Boston Partners increased its holdings in American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company's stock valued at $485,525,000 after acquiring an additional 387,166 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in American Express by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company's stock worth $456,418,000 after purchasing an additional 7,676 shares in the last quarter. abrdn plc boosted its holdings in shares of American Express by 2.2% during the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company's stock valued at $343,437,000 after purchasing an additional 27,859 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of American Express by 2.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company's stock valued at $282,589,000 after purchasing an additional 23,487 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Monness Crespi & Hardt boosted their target price on American Express from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on American Express from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Wells Fargo & Company raised their target price on shares of American Express from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. Finally, Hsbc Global Res cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, American Express presently has an average rating of "Hold" and a consensus target price of $253.09.

American Express Stock Down 0.3 %

Shares of AXP traded down $0.87 during midday trading on Wednesday, reaching $287.64. 2,117,575 shares of the stock were exchanged, compared to its average volume of 2,907,961. The company has a market capitalization of $202.63 billion, a P/E ratio of 21.22, a PEG ratio of 1.65 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 52 week low of $156.03 and a 52 week high of $296.83. The company's 50 day moving average is $270.01 and its two-hundred day moving average is $250.23.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.30 earnings per share. On average, sell-side analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, October 4th. American Express's dividend payout ratio (DPR) is 20.60%.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 sale, the insider now owns 109,691 shares of the company's stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated Tuesday, October 29th. The shares were 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 of the company's stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % 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 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.