Victory Capital Management Inc. Lowers Stake in American Express (NYSE:AXP)

Victory Capital Management Inc. cut its stake in shares of American Express (NYSE:AXP - Free Report) by 9.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 500,311 shares of the payment services company's stock after selling 49,842 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of American Express worth $135,684,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its holdings in American Express by 21.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 7,811 shares of the payment services company's stock worth $2,118,000 after acquiring an additional 1,387 shares in the last quarter. Cumberland Partners Ltd increased its holdings in American Express by 175.0% in the third quarter. Cumberland Partners Ltd now owns 5,500 shares of the payment services company's stock valued at $1,492,000 after buying an additional 3,500 shares during the last quarter. Savvy Advisors Inc. raised its stake in American Express by 38.0% in the third quarter. Savvy Advisors Inc. now owns 1,865 shares of the payment services company's stock valued at $506,000 after buying an additional 514 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in American Express by 1.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 7,979 shares of the payment services company's stock worth $2,164,000 after buying an additional 78 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of American Express by 564.8% during the 3rd quarter. Rakuten Securities Inc. now owns 585 shares of the payment services company's stock worth $159,000 after acquiring an additional 497 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

American Express stock traded down $0.87 during midday trading on Wednesday, reaching $287.64. The company's stock had a trading volume of 2,117,575 shares, compared to its average volume of 2,907,961. The firm has a market capitalization of $202.63 billion, a PE ratio of 21.22, a P/E/G ratio of 1.65 and a beta of 1.21. American Express has a fifty-two week low of $156.03 and a fifty-two week high of $296.83. The stock's 50 day simple moving average is $270.01 and its 200 day simple moving average is $250.23. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS 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 firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

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

Insider Buying and Selling

In other news, insider Anre D. Williams sold 77,887 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was 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 in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred 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 transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the 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 sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXP. Morgan Stanley raised their price objective 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. TD Cowen boosted their price target on shares of American Express from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Royal Bank of Canada raised 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. BTIG Research downgraded American Express from a "neutral" rating to a "sell" rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price target on American Express from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.