Roffman Miller Associates Inc. PA Sells 3,104 Shares of American Express Company $AXP

Roffman Miller Associates Inc. PA trimmed its position in shares of American Express Company (NYSE:AXP) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,440 shares of the payment services company’s stock after selling 3,104 shares during the quarter. American Express makes up about 3.1% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 8th biggest holding. Roffman Miller Associates Inc. PA’s holdings in American Express were worth $55,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Vanguard Group Inc. increased its holdings in American Express by 1.3% in the second quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock valued at $14,808,730,000 after buying an additional 581,369 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Express by 11.1% during the 2nd 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 acquiring an additional 1,349,746 shares during the period. Norges Bank acquired a new stake in shares of American Express during the 2nd quarter valued at about $1,897,335,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of American Express by 1.6% in 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 valued at $1,370,489,000 after purchasing an additional 78,538 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in American Express by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock worth $1,473,966,000 after purchasing an additional 133,439 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the sale, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 7,726 shares of the company’s stock, valued at $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 valued at $20,658,509 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of several research analyst reports. Evercore ISI raised their price objective on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research report on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Finally, Wall Street Zen cut American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $335.55.

American Express Price Performance

NYSE:AXP opened at $380.85 on Tuesday. American Express Company has a one year low of $220.43 and a one year high of $387.49. The stock has a market cap of $262.35 billion, a PE ratio of 25.56, a P/E/G ratio of 1.80 and a beta of 1.14. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The stock has a 50 day moving average price of $361.29 and a 200 day moving average price of $332.09.

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

American Express Announces Dividend

The company 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio (DPR) is presently 22.01%.

About American Express

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.