American Express Company $AXP Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in American Express Company (NYSE:AXP) by 12.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 47,251 shares of the payment services company’s stock after selling 6,806 shares during the quarter. Pacer Advisors Inc.’s holdings in American Express were worth $15,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock valued at $14,808,730,000 after acquiring an additional 581,369 shares during the last quarter. Geode Capital Management LLC boosted its holdings in American Express by 11.1% in the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after purchasing an additional 1,349,746 shares during the last quarter. Norges Bank purchased a new stake in American Express in the second quarter valued at $1,897,335,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in American Express by 1.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after purchasing an additional 78,538 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of American Express by 3.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock valued at $1,473,966,000 after buying an additional 133,439 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,515 shares of company stock valued at $20,658,509. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXP has been the topic of several analyst reports. BTIG Research raised their target price on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a report on Friday, October 17th. Barclays upped their price objective on American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. lifted their target price on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Evercore ISI increased their price target on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley set a $370.00 price objective on shares of American Express in a report on Tuesday, December 16th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $335.55.

American Express Trading Down 0.5%

Shares of NYSE:AXP opened at $381.02 on Friday. The business’s 50 day moving average price is $365.19 and its 200-day moving average price is $334.14. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The firm has a market capitalization of $262.47 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.82 and a beta of 1.14. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

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

American Express Announces Dividend

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

American Express Company 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.