Chevy Chase Trust Holdings Inc. reduced its stake in American Express Co. (NYSE:AXP) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,026 shares of the payment services company’s stock after selling 43,238 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.07% of American Express worth $42,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Mycio Wealth Partners LLC raised its stake in shares of American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares in the last quarter. Blume Capital Management Inc. raised its stake in shares of American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares in the last quarter. Capital Analysts LLC raised its stake in shares of American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in shares of American Express during the second quarter valued at approximately $112,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of American Express by 0.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,607 shares of the payment services company’s stock valued at $158,000 after buying an additional 12 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of American Express Co. (NYSE:AXP) traded down 1.09% during mid-day trading on Friday, reaching $71.00. 5,430,609 shares of the company traded hands. The firm has a 50 day moving average of $64.58 and a 200-day moving average of $64.20. The stock has a market capitalization of $64.98 billion, a PE ratio of 12.62 and a beta of 1.19. American Express Co. has a 52 week low of $50.27 and a 52 week high of $73.35.

American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. The company earned $7.80 billion during the quarter, compared to analyst estimates of $7.70 billion. American Express had a net margin of 16.67% and a return on equity of 27.84%. American Express’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 earnings per share. On average, equities research analysts expect that American Express Co. will post $5.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, October 7th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.80%. This is an increase from American Express’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, October 5th. American Express’s dividend payout ratio (DPR) is 22.70%.

Several equities analysts have recently weighed in on AXP shares. Citigroup Inc. reiterated a “buy” rating on shares of American Express in a research note on Wednesday, August 10th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, October 24th. TheStreet upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. Piper Jaffray Cos. reiterated a “hold” rating and issued a $71.00 target price on shares of American Express in a research note on Wednesday, September 7th. Finally, Barclays PLC set a $63.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Thursday, October 20th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $67.37.

In other news, insider Ashwini Gupta sold 146,030 shares of American Express stock in a transaction on Monday, November 14th. The stock was sold at an average price of $72.28, for a total transaction of $10,555,048.40. Following the completion of the sale, the insider now directly owns 298,910 shares in the company, valued at $21,605,214.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 19,186 shares of American Express stock in a transaction on Friday, November 11th. The stock was sold at an average price of $70.45, for a total value of $1,351,653.70. Following the sale, the insider now owns 56,870 shares of the company’s stock, valued at $4,006,491.50. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

About American Express

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

5 Day Chart for NYSE:AXP

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