Lake Street Advisors Group LLC Has $2.39 Million Stock Position in American Express (NYSE:AXP)

by · The Cerbat Gem

Lake Street Advisors Group LLC trimmed its position in American Express (NYSE:AXP – Free Report) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,819 shares of the payment services company’s stock after selling 45 shares during the quarter. Lake Street Advisors Group LLC’s holdings in American Express were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AXP. DHJJ Financial Advisors Ltd. lifted its stake in shares of American Express by 42.2% in the second 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 position in American Express during the 1st quarter valued at $40,000. POM Investment Strategies LLC acquired a new position in American Express during the 2nd quarter valued at $42,000. Founders Capital Management acquired a new position in American Express during the 2nd quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express during the 3rd quarter valued at $46,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday. 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. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and boosted their price target for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price target 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. Finally, 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 report on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $253.09.

Get Our Latest Report on American Express

Insider Buying and Selling at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred 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 directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

American Express Price Performance

NYSE AXP traded up $1.06 on Friday, hitting $271.04. 715,972 shares of the company were exchanged, compared to its average volume of 2,922,066. The firm has a 50 day moving average of $263.16 and a two-hundred day moving average of $244.92. The company has a market cap of $194.96 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1-year low of $141.02 and a 1-year high of $286.36.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.30 EPS. On average, equities analysts predict that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. American Express’s payout ratio is presently 23.06%.

American Express Company Profile

(Free Report)

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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