Patten & Patten Inc. TN Has $1.23 Million Stock Holdings in American Express (NYSE:AXP)

Patten & Patten Inc. TN cut its position in shares of American Express (NYSE:AXP) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,543 shares of the payment services company’s stock after selling 350 shares during the period. Patten & Patten Inc. TN’s holdings in American Express were worth $1,226,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bison Wealth LLC grew its position in American Express by 2.1% in the second quarter. Bison Wealth LLC now owns 20,444 shares of the payment services company’s stock valued at $3,561,000 after acquiring an additional 416 shares during the last quarter. National Bank of Canada FI lifted its position in shares of American Express by 25.0% during the 3rd quarter. National Bank of Canada FI now owns 499,340 shares of the payment services company’s stock worth $74,584,000 after buying an additional 99,813 shares in the last quarter. Beutel Goodman & Co Ltd. grew its stake in shares of American Express by 7.6% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,785,141 shares of the payment services company’s stock worth $310,971,000 after acquiring an additional 125,990 shares during the period. GYL Financial Synergies LLC lifted its stake in American Express by 1.0% in the 3rd quarter. GYL Financial Synergies LLC now owns 23,987 shares of the payment services company’s stock worth $3,579,000 after purchasing an additional 242 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in American Express by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 1,574,663 shares of the payment services company’s stock valued at $294,856,000 after purchasing an additional 102,132 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the sale, the chief executive officer now owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares in the company, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,047 shares of company stock worth $36,528,388. 0.12% of the stock is currently owned by insiders.

American Express Trading Down 0.9 %

NYSE:AXP opened at $225.58 on Wednesday. The firm has a 50-day simple moving average of $215.35 and a 200-day simple moving average of $182.67. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a one year low of $140.91 and a one year high of $231.69. The firm has a market cap of $163.29 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.28 and a beta of 1.23.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings data on Friday, January 26th. The payment services company reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). American Express had a return on equity of 30.99% and a net margin of 13.84%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Equities analysts anticipate that American Express will post 12.83 EPS for the current fiscal year.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 24.98%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. raised American Express from a “neutral” rating to an “overweight” rating and upped their price target for the company from $167.00 to $205.00 in a research report on Thursday, January 4th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $148.00 to $193.00 in a research report on Tuesday, January 2nd. Monness Crespi & Hardt initiated coverage on American Express in a research report on Wednesday, December 20th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of American Express in a report on Wednesday, January 10th. They set a “buy” rating and a $235.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of American Express from $229.00 to $243.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $191.84.

View Our Latest Analysis on AXP

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

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