Virtu Financial LLC Takes Position in American Express (NYSE:AXP)

Virtu Financial LLC bought a new stake in American Express (NYSE:AXP - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,781 shares of the payment services company's stock, valued at approximately $1,296,000.

A number of other institutional investors also recently modified their holdings of the business. Prospera Private Wealth LLC bought a new position in American Express in the third quarter valued at about $27,000. Kennebec Savings Bank bought a new stake in shares of American Express during the 3rd quarter valued at approximately $29,000. True Wealth Design LLC increased its position in American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in American Express in the 3rd quarter valued at approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Up 0.6 %

Shares of American Express stock traded up $1.89 during trading on Friday, reaching $302.19. 1,661,117 shares of the company traded hands, compared to its average volume of 2,856,218. The firm has a market capitalization of $212.88 billion, a PE ratio of 22.23, a P/E/G ratio of 1.73 and a beta of 1.23. American Express has a 1-year low of $175.60 and a 1-year high of $307.82. The company has a 50 day moving average price of $285.93 and a 200-day moving average price of $259.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

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 the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion for 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 business'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 earnings per share. As a group, equities research analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, January 3rd. American Express's payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of American Express from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday. Monness Crespi & Hardt increased their target price on American Express from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. HSBC lowered shares of American Express from a "buy" rating to a "hold" rating and raised their price objective for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, BTIG Research lowered shares of American Express from a "neutral" rating to a "sell" rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Four 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. Based on data from MarketBeat, American Express presently has a consensus rating of "Hold" and an average price target of $259.45.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business's 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 $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the company's stock in a transaction dated 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 sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,998 shares of company stock worth $26,423,439 in the last ninety days. Corporate insiders own 0.12% of the company's stock.

About American Express

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.