Heritage Wealth Management LLC Cuts Holdings in American Express (NYSE:AXP)

Heritage Wealth Management LLC lessened its stake in American Express (NYSE:AXP) by 95.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513 shares of the payment services company’s stock after selling 9,731 shares during the period. Heritage Wealth Management LLC’s holdings in American Express were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vident Investment Advisory LLC raised its holdings in American Express by 29.3% during the 2nd quarter. Vident Investment Advisory LLC now owns 21,333 shares of the payment services company’s stock valued at $3,526,000 after buying an additional 4,836 shares during the last quarter. Beck Mack & Oliver LLC raised its holdings in American Express by 0.4% in the 3rd quarter. Beck Mack & Oliver LLC now owns 311,519 shares of the payment services company’s stock worth $52,189,000 after purchasing an additional 1,357 shares in the last quarter. Financial Avengers Inc. raised its holdings in American Express by 1.5% in the 2nd quarter. Financial Avengers Inc. now owns 42,467 shares of the payment services company’s stock worth $7,017,000 after purchasing an additional 619 shares in the last quarter. Pacific Global Investment Management Co. raised its holdings in American Express by 1.1% in the 3rd quarter. Pacific Global Investment Management Co. now owns 31,176 shares of the payment services company’s stock worth $5,223,000 after purchasing an additional 349 shares in the last quarter. Finally, FMR LLC increased its stake in shares of American Express by 42.8% in the 2nd quarter. FMR LLC now owns 11,781,138 shares of the payment services company’s stock worth $1,946,597,000 after acquiring an additional 3,533,898 shares in the last quarter. 84.60% of the stock is owned by institutional investors.

American Express stock opened at $168.40 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.41. American Express has a 12 month low of $112.10 and a 12 month high of $189.03. The stock’s 50 day simple moving average is $168.20 and its two-hundred day simple moving average is $168.98. The firm has a market cap of $130.44 billion, a PE ratio of 17.60, a P/E/G ratio of 0.90 and a beta of 1.25.

American Express (NYSE:AXP) last announced its earnings results on Thursday, October 21st. The payment services company reported $2.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.47. The business had revenue of $10.93 billion during the quarter, compared to the consensus estimate of $10.55 billion. American Express had a return on equity of 28.48% and a net margin of 19.54%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. On average, equities research analysts forecast that American Express will post 9.57 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 10th. Shareholders of record on Friday, January 7th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, January 6th. American Express’s dividend payout ratio (DPR) is presently 17.97%.

In other news, insider Anna Marrs sold 26,094 shares of the stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $171.22, for a total transaction of $4,467,814.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Several analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of American Express from $185.00 to $195.00 and gave the company a “sector perform” rating in a research report on Monday, October 25th. Stephens raised their price target on shares of American Express from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, October 25th. Morgan Stanley raised their price target on shares of American Express from $209.00 to $211.00 and gave the company an “overweight” rating in a report on Monday, December 6th. Barclays raised their price objective on shares of American Express from $171.00 to $182.00 and gave the stock an “equal weight” rating in a report on Monday, January 10th. Finally, Bank of America raised their target price on shares of American Express from $178.00 to $189.00 and gave the stock a “neutral” rating in a research note on Monday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, American Express has an average rating of “Hold” and an average target price of $179.56.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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

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