Lavaca Capital LLC Lowers Stake in American Express (NYSE:AXP)

Lavaca Capital LLC reduced its holdings in shares of American Express (NYSE:AXP) by 61.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,788 shares of the payment services company’s stock after selling 2,845 shares during the period. Lavaca Capital LLC’s holdings in American Express were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXP. Fisher Asset Management LLC raised its holdings in American Express by 19.8% in the third quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock worth $1,609,248,000 after buying an additional 2,252,720 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of American Express by 212,845.6% in the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after purchasing an additional 9,575,925 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after purchasing an additional 6,587,148 shares during the last quarter. Parnassus Investments CA grew its holdings in shares of American Express by 1.4% in the third quarter. Parnassus Investments CA now owns 6,193,957 shares of the payment services company’s stock worth $732,621,000 after purchasing an additional 85,419 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of American Express by 5.9% in the second quarter. Invesco Ltd. now owns 5,706,357 shares of the payment services company’s stock worth $704,392,000 after purchasing an additional 319,389 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Several research analysts have issued reports on AXP shares. Wells Fargo & Co set a $140.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Monday, October 21st. Oppenheimer set a $126.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Monday, October 21st. Cfra reiterated a “hold” rating on shares of American Express in a report on Friday, October 18th. JPMorgan Chase & Co. set a $122.00 target price on shares of American Express and gave the stock a “hold” rating in a report on Tuesday, October 8th. Finally, ValuEngine cut shares of American Express from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $124.96.

In other American Express news, Director Theodore Leonsis sold 8,420 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total transaction of $980,424.80. Following the completion of the sale, the director now directly owns 11,580 shares of the company’s stock, valued at $1,348,375.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the sale, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,820 shares of company stock valued at $3,039,511. Insiders own 0.21% of the company’s stock.

American Express stock traded up $0.19 during midday trading on Friday, hitting $121.47. 1,953,078 shares of the company’s stock were exchanged, compared to its average volume of 3,349,832. The company has a market cap of $97.19 billion, a PE ratio of 16.57, a P/E/G ratio of 1.38 and a beta of 1.05. The firm has a 50-day moving average of $117.31 and a two-hundred day moving average of $120.44. American Express has a 12 month low of $89.05 and a 12 month high of $129.34. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, equities analysts expect that American Express will post 8.16 earnings per share for the current year.

The company also recently declared a 0.39000 dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were given a dividend of $0.43 per share. This represents a dividend yield of 1.3%. The ex-dividend date was Thursday, October 3rd. American Express’s payout ratio is 23.47%.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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