Lombard Odier Asset Management Switzerland SA lessened its holdings in American Express (NYSE:AXP) by 89.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,017 shares of the payment services company’s stock after selling 80,703 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in American Express were worth $1,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zullo Investment Group Inc. increased its stake in American Express by 2.4% during the 2nd quarter. Zullo Investment Group Inc. now owns 2,589 shares of the payment services company’s stock valued at $451,000 after buying an additional 61 shares during the period. Accurate Wealth Management LLC increased its stake in American Express by 4.1% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,588 shares of the payment services company’s stock valued at $275,000 after buying an additional 63 shares during the period. Blume Capital Management Inc. increased its stake in American Express by 3.1% during the 2nd quarter. Blume Capital Management Inc. now owns 2,112 shares of the payment services company’s stock valued at $368,000 after buying an additional 63 shares during the period. Orion Portfolio Solutions LLC increased its stake in American Express by 1.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock valued at $1,041,000 after buying an additional 65 shares during the period. Finally, Magnus Financial Group LLC increased its stake in American Express by 1.9% during the 2nd quarter. Magnus Financial Group LLC now owns 3,549 shares of the payment services company’s stock valued at $618,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of American Express from $203.00 to $202.00 in a research note on Thursday, October 5th. BMO Capital Markets decreased their target price on shares of American Express from $194.00 to $188.00 and set a “market perform” rating for the company in a report on Monday, October 23rd. Citigroup upgraded shares of American Express from a “sell” rating to a “neutral” rating and raised their target price for the stock from $143.00 to $154.00 in a report on Wednesday, October 25th. Barclays started coverage on shares of American Express in a report on Wednesday, November 15th. They issued an “overweight” rating and a $184.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $171.42.

Read Our Latest Report on AXP

American Express Stock Performance

Shares of American Express stock traded up $1.70 on Friday, reaching $172.47. The stock had a trading volume of 856,498 shares, compared to its average volume of 3,132,709. The business’s 50-day moving average price is $152.97 and its two-hundred day moving average price is $160.63. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.60 and a current ratio of 1.60. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $182.15. The stock has a market cap of $125.69 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.04 and a beta of 1.21.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.34. American Express had a net margin of 13.61% and a return on equity of 30.60%. The business had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.36 billion. During the same period in the previous year, the company earned $2.47 earnings per share. American Express’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, sell-side analysts forecast that American Express will post 11.21 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s payout ratio is currently 22.51%.

Insider Activity at American Express

In related news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the completion of the transaction, the insider now directly owns 125,646 shares in the company, valued at approximately $21,149,991.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other American Express news, Director Walter Joseph Clayton III purchased 1,000 shares of the stock in a transaction on Tuesday, October 24th. The shares were purchased at an average price of $143.93 per share, with a total value of $143,930.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $287,860. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the completion of the sale, the insider now directly owns 125,646 shares in the company, valued at approximately $21,149,991.18. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Company Profile

(Free Report)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

See Also

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