Birmingham Capital Management Co. Inc. AL reduced its stake in shares of American Express (NYSE:AXP - Free Report) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,005 shares of the payment services company's stock after selling 3,070 shares during the quarter. American Express accounts for approximately 1.8% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its 21st largest holding. Birmingham Capital Management Co. Inc. AL's holdings in American Express were worth $4,750,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. Capital & Planning LLC purchased a new position in shares of American Express during the fourth quarter valued at approximately $213,000. Brighton Jones LLC boosted its stake in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after acquiring an additional 1,273 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in American Express by 5.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 6,202 shares of the payment services company's stock valued at $1,841,000 after acquiring an additional 313 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of American Express by 12.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,625 shares of the payment services company's stock worth $1,966,000 after buying an additional 712 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of American Express by 4.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 5,876 shares of the payment services company's stock worth $1,744,000 after buying an additional 247 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.
American Express Stock Performance
American Express stock traded up $2.14 on Thursday, hitting $295.50. The company's stock had a trading volume of 2,361,754 shares, compared to its average volume of 2,844,659. American Express has a one year low of $220.43 and a one year high of $326.28. 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 $270.26 and a 200-day moving average price of $288.66. The firm has a market cap of $207.02 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.
American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. The company had revenue of $16.97 billion for 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 in the previous year, the company earned $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 disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were issued a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, April 4th. American Express's payout ratio is currently 22.91%.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Monness Crespi & Hardt lifted their price objective on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup decreased their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $325.00 to $274.00 in a report on Friday, April 11th. 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 research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $296.05.
View Our Latest Report on American Express
American Express Profile
(
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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