Strive Asset Management LLC bought a new position in shares of American Express (NYSE:AXP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,632 shares of the payment services company's stock, valued at approximately $781,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tang Capital Management LLC boosted its stake in American Express by 279.5% during the fourth quarter. Tang Capital Management LLC now owns 3,799 shares of the payment services company's stock worth $1,128,000 after acquiring an additional 2,798 shares in the last quarter. Scissortail Wealth Management LLC boosted its stake in American Express by 100,466.7% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,017 shares of the payment services company's stock worth $895,000 after acquiring an additional 3,014 shares in the last quarter. Snowden Capital Advisors LLC boosted its stake in American Express by 0.3% during the fourth quarter. Snowden Capital Advisors LLC now owns 19,512 shares of the payment services company's stock worth $5,791,000 after acquiring an additional 67 shares in the last quarter. SGL Investment Advisors Inc. bought a new position in shares of American Express in the fourth quarter valued at $249,000. Finally, Shell Asset Management Co. lifted its stake in shares of American Express by 23.3% in the fourth quarter. Shell Asset Management Co. now owns 23,715 shares of the payment services company's stock valued at $7,038,000 after buying an additional 4,488 shares in the last quarter. 84.33% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on AXP. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective on the stock in a research note on Friday, March 14th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Evercore ISI raised their price objective on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. HSBC raised their price objective on shares of American Express from $270.00 to $294.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Finally, Monness Crespi & Hardt raised their price objective on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $295.05.
View Our Latest Stock Report on American Express
Insider Transactions at American Express
In related news, insider Howard Grosfield sold 9,450 shares of the business'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 transaction of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares of the company's stock, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.
American Express Price Performance
NYSE AXP opened at $299.48 on Friday. 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 market cap of $209.81 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The firm's 50-day simple moving average is $266.20 and its two-hundred day simple moving average is $288.12.
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. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $3.33 earnings per share. Research analysts predict that American Express will post 15.33 earnings per share for the current year.
American Express Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were paid a $0.82 dividend. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date was Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. American Express's dividend payout ratio (DPR) is presently 22.91%.
About American Express
(
Free Report)
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.
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