Beacon Pointe Advisors LLC Sells 5,474 Shares of American Express (NYSE:AXP)

Beacon Pointe Advisors LLC cut its stake in shares of American Express (NYSE:AXP - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,081 shares of the payment services company's stock after selling 5,474 shares during the period. Beacon Pointe Advisors LLC's holdings in American Express were worth $23,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Virtu Financial LLC bought a new stake in American Express in the third quarter worth approximately $1,296,000. SOA Wealth Advisors LLC. grew its position in American Express by 2.7% in the third quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company's stock worth $2,178,000 after acquiring an additional 209 shares in the last quarter. SkyView Investment Advisors LLC grew its position in American Express by 3.1% in the third quarter. SkyView Investment Advisors LLC now owns 2,423 shares of the payment services company's stock worth $657,000 after acquiring an additional 73 shares in the last quarter. World Investment Advisors LLC grew its position in American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock worth $1,292,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in American Express by 293.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,428 shares of the payment services company's stock worth $8,523,000 after acquiring an additional 23,432 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

American Express stock traded up $2.51 on Thursday, hitting $268.92. The company's stock had a trading volume of 2,473,752 shares, compared to its average volume of 2,826,022. The firm has a market cap of $188.40 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average price of $265.44 and a 200-day moving average price of $286.97. American Express has a one year low of $220.43 and a one year high of $326.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the firm posted $3.33 EPS. On average, equities analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This is a positive change from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.22%. American Express's dividend payout ratio is presently 22.91%.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider now owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This represents a 21.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on AXP shares. Morgan Stanley boosted their target price on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Compass Point reduced their price objective on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Citigroup reduced their price objective on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. UBS Group boosted their price objective on shares of American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Finally, Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective for the company in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $295.05.

American Express 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.