Stockman Wealth Management Inc. Grows Stock Holdings in American Express Company $AXP

Stockman Wealth Management Inc. boosted its stake in shares of American Express Company (NYSE:AXP) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,123 shares of the payment services company’s stock after acquiring an additional 1,864 shares during the quarter. American Express comprises about 1.8% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest position. Stockman Wealth Management Inc.’s holdings in American Express were worth $14,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of American Express in the second quarter worth about $1,897,335,000. Laurel Wealth Advisors LLC lifted its holdings in American Express by 31,595.9% during the second quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after buying an additional 1,736,513 shares during the period. Geode Capital Management LLC grew its stake 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. Ameriprise Financial Inc. raised its stake in shares of American Express by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after acquiring an additional 646,039 shares in the last quarter. Finally, Provident Trust Co. raised its stake in American Express by 136.6% in the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after buying an additional 640,214 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Keefe, Bruyette & Woods raised their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Morgan Stanley set a $370.00 price objective on shares of American Express in a report on Tuesday, December 16th. Compass Point reissued a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday, October 20th. Finally, DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a research report on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $335.55.

American Express Stock Down 0.5%

Shares of NYSE AXP opened at $381.02 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The stock has a market cap of $262.47 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The business has a 50-day moving average price of $365.19 and a 200 day moving average price of $333.90. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) 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%. Equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were 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 of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, 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 57,515 shares of company stock worth $20,658,509 over the last ninety days. 0.20% of the stock is currently owned by insiders.

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.