Argent Advisors Inc. Acquires 1,005 Shares of American Express Company (NYSE:AXP)

Argent Advisors Inc. raised its position in shares of American Express Company (NYSE:AXP) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,403 shares of the payment services company's stock after acquiring an additional 1,005 shares during the period. American Express makes up about 0.8% of Argent Advisors Inc.'s investment portfolio, making the stock its 29th largest position. Argent Advisors Inc.'s holdings in American Express were worth $2,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AXP. Brighton Jones LLC increased its position in American Express by 24.4% during the fourth 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. Bank Pictet & Cie Europe AG increased its position in American Express by 24.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock valued at $781,000 after acquiring an additional 525 shares during the last quarter. GHE LLC increased its position in American Express by 2.7% during the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company's stock valued at $5,052,000 after acquiring an additional 447 shares during the last quarter. SVB Wealth LLC bought a new position in American Express during the fourth quarter valued at $3,749,000. Finally, West Michigan Advisors LLC increased its position in American Express by 5.8% during the fourth quarter. West Michigan Advisors LLC now owns 988 shares of the payment services company's stock valued at $293,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a report on Friday, March 14th. Argus cut shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. The Goldman Sachs Group cut their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, William Blair restated an "outperform" rating on shares of American Express in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $296.05.

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 transaction of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the transaction, the insider now directly owns 9,402 shares of the company's stock, valued at $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 insiders.

American Express Stock Performance

Shares of American Express stock opened at $317.48 on Monday. The firm has a market capitalization of $222.43 billion, a P/E ratio of 22.17, a PEG ratio of 1.54 and a beta of 1.25. 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 50 day moving average price of $288.89 and a 200 day moving average price of $288.88. American Express Company has a 52 week low of $220.43 and a 52 week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same period last year, the firm posted $3.33 EPS. Sell-side analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, July 3rd. American Express's payout ratio is currently 22.91%.

American Express Company 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.

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