Olstein Capital Management L.P. lowered its stake in shares of American Express (NYSE:AXP) by 20.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,000 shares of the payment services company’s stock after selling 11,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in American Express were worth $4,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Destination Wealth Management increased its position in shares of American Express by 165.4% during the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after acquiring an additional 660 shares during the period. Tuttle Tactical Management purchased a new stake in shares of American Express during the second quarter worth $105,000. Lenox Wealth Advisors LLC increased its position in shares of American Express by 1,173.8% during the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock worth $114,000 after acquiring an additional 986 shares during the period. Sageworth Trust Co increased its position in shares of American Express by 455.6% during the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock worth $133,000 after acquiring an additional 1,025 shares during the period. Finally, Kiley Juergens Wealth Management LLC purchased a new stake in shares of American Express during the second quarter worth $148,000. 83.20% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on AXP. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Stephens raised American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective on the stock in a research report on Monday, September 17th. Bank of America set a $125.00 price objective on American Express and gave the stock a “buy” rating in a research report on Friday, October 19th. Wells Fargo & Co upped their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Morgan Stanley upped their price objective on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $112.70.

In other news, CFO Scott Murcray acquired 350,000 shares of the company’s stock in a transaction on Monday, September 3rd. The shares were bought at an average price of $0.28 per share, with a total value of $98,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc D. Gordon sold 25,948 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now directly owns 33,111 shares in the company, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

NYSE:AXP opened at $106.49 on Tuesday. The firm has a market capitalization of $92.50 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 12 month low of $87.54 and a 12 month high of $111.77.

American Express (NYSE:AXP) last posted its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. Analysts predict that American Express will post 7.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were issued a dividend of $0.39 per share. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, October 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.46%. American Express’s dividend payout ratio (DPR) is presently 26.58%.

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American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

Further Reading: Benefits of owning preferred stock

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

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