Investment Research & Advisory Group Inc. lessened its position in American Express Company (NYSE:AXP) by 85.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149 shares of the payment services company's stock after selling 850 shares during the quarter. Investment Research & Advisory Group Inc.'s holdings in American Express were worth $40,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in American Express during the 4th quarter worth $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of American Express by 463.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after buying an additional 3,583,959 shares in the last quarter. GAMMA Investing LLC boosted its position in American Express by 27,625.2% during the first quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after acquiring an additional 2,155,045 shares during the last quarter. Capital Research Global Investors grew its stake in American Express by 186.3% during the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock valued at $886,426,000 after acquiring an additional 1,943,463 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in 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 valued at $600,072,000 after acquiring an additional 1,568,747 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Stock Performance
NYSE:AXP opened at $296.54 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a 50 day moving average price of $282.42 and a 200 day moving average price of $288.80. The stock has a market capitalization of $207.75 billion, a P/E ratio of 20.71, a PEG ratio of 1.44 and a beta of 1.25.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the business posted $3.33 earnings per share. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.
American Express Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio is currently 22.91%.
Wall Street Analysts Forecast Growth
AXP has been the topic of several recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $310.00 target price on shares of American Express in a report on Monday, April 21st. Monness Crespi & Hardt boosted their price objective on American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. raised their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, April 21st. Finally, Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective for the company in a report on Friday, March 14th. One investment 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.com, the company currently has a consensus rating of "Hold" and an average price target of $296.05.
Check Out Our Latest Stock Analysis on AXP
Insiders Place Their Bets
In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the firm'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 value of $799,008.54. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.
American Express Profile
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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.
See Also
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).
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