Suntrust Banks Inc. Reduces Position in American Express Company (AXP)

Suntrust Banks Inc. cut its position in shares of American Express Company (NYSE:AXP) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,554 shares of the payment services company’s stock after selling 3,525 shares during the quarter. Suntrust Banks Inc.’s holdings in American Express were worth $12,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealthfront Inc. boosted its position in shares of American Express by 6.0% during the second quarter. Wealthfront Inc. now owns 23,024 shares of the payment services company’s stock valued at $1,940,000 after purchasing an additional 1,294 shares in the last quarter. GM Advisory Group Inc. boosted its position in shares of American Express by 12.9% during the second quarter. GM Advisory Group Inc. now owns 84,029 shares of the payment services company’s stock valued at $7,079,000 after purchasing an additional 9,632 shares in the last quarter. MML Investors Services LLC boosted its holdings in American Express by 47.3% in the second quarter. MML Investors Services LLC now owns 16,301 shares of the payment services company’s stock worth $1,373,000 after acquiring an additional 5,238 shares in the last quarter. TIAA FSB bought a new stake in American Express in the second quarter worth $3,341,000. Finally, FMR LLC boosted its holdings in American Express by 11.0% in the second quarter. FMR LLC now owns 1,237,170 shares of the payment services company’s stock worth $104,219,000 after acquiring an additional 123,055 shares in the last quarter. Institutional investors own 84.12% of the company’s stock.

In other news, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Insiders sold a total of 146,345 shares of company stock worth $13,716,103 over the last quarter. Company insiders own 0.67% of the company’s stock.

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Several equities research analysts have commented on the company. Barclays PLC set a $93.00 target price on American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Bank of America Corporation boosted their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group LLC reissued an “in-line” rating and issued a $93.00 target price (up from $85.00) on shares of American Express in a report on Thursday, October 19th. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Buckingham Research initiated coverage on American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $91.56.

American Express Company (AXP) opened at $93.76 on Wednesday. The company has a market capitalization of $81,504.84, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. American Express Company has a fifty-two week low of $70.77 and a fifty-two week high of $96.90. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. equities analysts predict that American Express Company will post 5.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. American Express’s dividend payout ratio (DPR) is currently 26.97%.

About American Express

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

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

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