American Express Company $AXP is Baxter Bros Inc.’s 8th Largest Position

Baxter Bros Inc. lowered its stake in American Express Company (NYSE:AXP) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,038 shares of the payment services company’s stock after selling 2,135 shares during the quarter. American Express comprises approximately 3.1% of Baxter Bros Inc.’s holdings, making the stock its 8th largest holding. Baxter Bros Inc.’s holdings in American Express were worth $26,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Berger Financial Group Inc lifted its position in shares of American Express by 1.4% in the third quarter. Berger Financial Group Inc now owns 2,232 shares of the payment services company’s stock worth $741,000 after buying an additional 31 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in American Express by 10.1% in the 3rd quarter. HBK Sorce Advisory LLC now owns 11,425 shares of the payment services company’s stock worth $3,700,000 after acquiring an additional 1,049 shares during the last quarter. M. Kraus & Co purchased a new stake in shares of American Express during the 3rd quarter worth approximately $278,000. Jamison Private Wealth Management Inc. boosted its position in shares of American Express by 0.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 4,220 shares of the payment services company’s stock valued at $1,402,000 after acquiring an additional 31 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of American Express by 88.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,144 shares of the payment services company’s stock valued at $7,023,000 after acquiring an additional 9,946 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $380.85 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. American Express Company has a 12 month low of $220.43 and a 12 month high of $387.49. The company has a market capitalization of $262.35 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.80 and a beta of 1.14. The firm’s 50-day moving average is $361.29 and its 200 day moving average is $332.09.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter. The firm had revenue of ($17,139.00) million during the quarter. American Express had a return on equity of 33.41% and a net margin of 14.97%. Research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s dividend payout ratio is 22.01%.

Insiders Place Their Bets

In other news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 over the last quarter. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXP shares. Wolfe Research started coverage on shares of American Express in a research note on Monday, December 8th. They set a “peer perform” rating on the stock. UBS Group boosted their target price on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Compass Point restated a “neutral” rating and set a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Wells Fargo & Company lifted their price target on American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Finally, Keefe, Bruyette & Woods upped their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $335.55.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.