Pinnacle Financial Partners Inc Has $44.93 Million Stake in American Express (NYSE:AXP)

Pinnacle Financial Partners Inc increased its stake in American Express (NYSE:AXP) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 165,664 shares of the payment services company’s stock after purchasing an additional 1,106 shares during the quarter. American Express makes up 0.9% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 20th largest holding. Pinnacle Financial Partners Inc’s holdings in American Express were worth $44,928,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in AXP. Hartline Investment Corp lifted its stake in shares of American Express by 29.9% in the third quarter. Hartline Investment Corp now owns 14,086 shares of the payment services company’s stock worth $3,820,000 after buying an additional 3,242 shares during the last quarter. Souders Financial Advisors acquired a new stake in shares of American Express in the third quarter valued at about $1,028,000. Aptus Capital Advisors LLC increased its stake in shares of American Express by 21.6% in the third quarter. Aptus Capital Advisors LLC now owns 7,811 shares of the payment services company’s stock worth $2,118,000 after purchasing an additional 1,387 shares during the period. Cumberland Partners Ltd lifted its position in shares of American Express by 175.0% during the 3rd quarter. Cumberland Partners Ltd now owns 5,500 shares of the payment services company’s stock worth $1,492,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Savvy Advisors Inc. grew its holdings in American Express by 38.0% in the 3rd quarter. Savvy Advisors Inc. now owns 1,865 shares of the payment services company’s stock valued at $506,000 after buying an additional 514 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada raised their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America upped their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Wells Fargo & Company upped their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Monness Crespi & Hardt lifted their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Stock Down 1.5 %

Shares of NYSE AXP opened at $288.60 on Wednesday. American Express has a 12-month low of $153.50 and a 12-month high of $296.83. The firm’s 50-day simple moving average is $270.01 and its 200 day simple moving average is $250.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market cap of $203.30 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.30 earnings per share. On average, research analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.97%. American Express’s dividend payout ratio (DPR) is currently 20.60%.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on 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 completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 completion of the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

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.