Artemis Investment Management LLP Lowers Holdings in American Express (NYSE:AXP)

Artemis Investment Management LLP decreased its position in shares of American Express (NYSE:AXP) by 85.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,705 shares of the payment services company’s stock after selling 126,061 shares during the quarter. Artemis Investment Management LLP’s holdings in American Express were worth $5,886,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in American Express during the 4th quarter valued at about $25,000. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in American Express during the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new position in American Express in the fourth quarter worth approximately $37,000. Finally, Riverview Trust Co purchased a new stake in American Express during the first quarter worth $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $271.48 on Thursday. American Express has a 52 week low of $140.91 and a 52 week high of $276.79. The business’s 50 day moving average price is $254.76 and its 200 day moving average price is $241.19. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $195.28 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the firm earned $2.89 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s payout ratio is currently 23.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AXP shares. Wells Fargo & Company lifted their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group increased their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $239.96.

About American Express

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.