Cambridge Investment Research Advisors Inc. Lowers Stock Position in American Express (NYSE:AXP)

Cambridge Investment Research Advisors Inc. cut its stake in shares of American Express (NYSE:AXP - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,621 shares of the payment services company's stock after selling 24,538 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in American Express were worth $26,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of American Express during the fourth quarter valued at $1,785,867,000. Capital Research Global Investors increased its holdings in American Express by 186.3% during the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock valued at $886,426,000 after buying an additional 1,943,463 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock worth $600,072,000 after acquiring an additional 1,568,747 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock valued at $300,289,000 after buying an additional 1,009,042 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in American Express in the fourth quarter valued at approximately $292,081,000. Institutional investors own 84.33% of the company's stock.

Insiders Place Their Bets

In related news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider now directly owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Stock Up 4.1%

AXP stock traded up $11.80 during midday trading on Monday, hitting $296.31. The company's stock had a trading volume of 1,500,013 shares, compared to its average volume of 3,136,376. The firm has a market capitalization of $207.59 billion, a P/E ratio of 21.16, a PEG ratio of 1.41 and a beta of 1.23. The firm has a 50-day simple moving average of $263.18 and a 200-day simple moving average of $287.22. American Express has a 52-week low of $220.43 and a 52-week high of $326.27. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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

American Express Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is currently 22.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AXP shares. Evercore ISI boosted their price target on American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a research note on Monday, January 27th. HSBC boosted their price objective on American Express from $270.00 to $294.00 and gave the company a "hold" rating in a report on Friday, January 24th. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Finally, Citigroup cut their price target on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus target price of $295.05.

About American Express

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.