Donaldson Capital Management LLC lowered its stake in shares of American Express (NYSE:AXP) by 32.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,445 shares of the payment services company’s stock after selling 1,645 shares during the period. Donaldson Capital Management LLC’s holdings in American Express were worth $407,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC acquired a new stake in American Express during the third quarter worth approximately $27,000. Winthrop Partners WNY LLC purchased a new position in American Express during the third quarter worth about $30,000. HMS Capital Management LLC purchased a new position in American Express during the second quarter worth about $37,000. FNY Investment Advisers LLC purchased a new position in American Express during the third quarter worth about $35,000. Finally, Enterprise Trust & Investment Co purchased a new position in shares of American Express in the 3rd quarter worth about $38,000. Institutional investors own 85.43% of the company’s stock.

AXP traded up $0.20 on Friday, reaching $121.48. The company had a trading volume of 1,566,890 shares, compared to its average volume of 2,890,560. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The stock has a market capitalization of $97.19 billion, a PE ratio of 16.57, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 2.54. The stock has a 50-day moving average price of $117.26 and a 200-day moving average price of $120.40.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. The company had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. As a group, analysts expect that American Express will post 8.16 earnings per share for the current fiscal year.

The firm also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s dividend payout ratio is presently 23.47%.

In related news, insider Denise Pickett sold 2,400 shares of American Express stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $118.39, for a total value of $284,136.00. Following the sale, the insider now directly owns 9,788 shares in the company, valued at approximately $1,158,801.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore Leonsis sold 8,420 shares of American Express stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the completion of the sale, the director now owns 11,580 shares in the company, valued at $1,348,375.20. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock valued at $3,039,511 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

A number of research firms have commented on AXP. William Blair reaffirmed a “buy” rating on shares of American Express in a research report on Friday, October 18th. Cfra reiterated a “hold” rating on shares of American Express in a research note on Friday, October 18th. ValuEngine cut American Express from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BMO Capital Markets raised their target price on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Oppenheimer set a $126.00 target price on American Express and gave the stock a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. American Express has a consensus rating of “Hold” and an average price target of $124.96.

About American Express

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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

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