Diversify Wealth Management LLC Sells 4,501 Shares of American Express (NYSE:AXP)

Diversify Wealth Management LLC decreased its stake in shares of American Express (NYSE:AXP) by 28.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,061 shares of the payment services company's stock after selling 4,501 shares during the quarter. Diversify Wealth Management LLC's holdings in American Express were worth $3,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company's stock worth $38,000 after buying an additional 49 shares during the last quarter. BNP Paribas acquired a new stake in American Express during the 1st quarter valued at approximately $40,000. POM Investment Strategies LLC acquired a new stake in American Express during the 2nd quarter valued at approximately $42,000. Founders Capital Management acquired a new position in shares of American Express in the 2nd quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Express in the 3rd quarter valued at $46,000. Institutional investors own 84.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of American Express from $250.00 to $257.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Monness Crespi & Hardt upped their target price on shares of American Express from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Morgan Stanley increased their price target on shares of American Express from $248.00 to $252.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. TD Cowen increased their price target on shares of American Express from $260.00 to $268.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Finally, HSBC cut shares of American Express from a "buy" rating to a "hold" rating and raised their target price for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Four investment 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $253.09.

American Express Stock Up 1.4 %

NYSE AXP traded up $3.75 on Wednesday, reaching $274.18. The company had a trading volume of 731,205 shares, compared to its average volume of 2,914,104. The firm has a market capitalization of $193.14 billion, a PE ratio of 19.91, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 1 year low of $143.07 and a 1 year high of $286.36. The firm has a 50-day moving average of $264.58 and a 200-day moving average of $246.51. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP - Get Free Report) last released 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. The firm had revenue of $16.64 billion during the quarter, compared to analysts' expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. On average, equities research analysts anticipate that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 4th. American Express's dividend payout ratio is presently 20.60%.

Insiders Place Their Bets

In other news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% 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.

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