Glenmede Trust Co. NA Sells 3,344 Shares of American Express (NYSE:AXP)

Glenmede Trust Co. NA trimmed its holdings in shares of American Express (NYSE:AXP) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 329,663 shares of the payment services company’s stock after selling 3,344 shares during the quarter. Glenmede Trust Co. NA’s holdings in American Express were worth $89,405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Prospera Private Wealth LLC bought a new stake in shares of American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express during the 3rd quarter worth $29,000. DHJJ Financial Advisors Ltd. increased its position in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. POM Investment Strategies LLC acquired a new position in American Express in the second quarter valued at about $42,000. Finally, Founders Capital Management bought a new stake in American Express during the second quarter worth about $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

American Express Stock Up 0.1 %

Shares of American Express stock opened at $305.60 on Wednesday. The stock’s 50-day moving average is $277.77 and its 200 day moving average is $254.26. American Express has a one year low of $163.32 and a one year high of $306.97. The firm has a market cap of $215.28 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.75 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 EPS. Equities research analysts anticipate that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Evercore ISI boosted their price objective on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. HSBC lowered American Express from a “buy” rating to a “hold” rating and lifted their price target for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Bank of America raised their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $253.09.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.