BridgePort Financial Solutions LLC Purchases New Holdings in American Express (NYSE:AXP)

BridgePort Financial Solutions LLC purchased a new stake in American Express (NYSE:AXP - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,031 shares of the payment services company's stock, valued at approximately $597,000.

A number of other institutional investors have also made changes to their positions in AXP. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express during the fourth quarter valued at about $832,000. Keybank National Association OH boosted its holdings in shares of American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock valued at $103,858,000 after acquiring an additional 12,364 shares in the last quarter. Edge Capital Group LLC raised its holdings in American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock worth $1,915,000 after purchasing an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC boosted its stake in American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company's stock valued at $5,638,000 after purchasing an additional 2,826 shares in the last quarter. Finally, NewEdge Wealth LLC increased its position in shares of American Express by 6.0% during the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock valued at $7,747,000 after purchasing an additional 1,471 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis bought 3,700 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 of the company's stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

American Express Stock Up 0.7%

Shares of NYSE AXP traded up $2.14 during mid-day trading on Thursday, reaching $295.50. 2,361,754 shares of the company traded hands, compared to its average volume of 2,844,659. The stock has a market cap of $207.02 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company's fifty day moving average is $270.26 and its two-hundred day moving average is $288.66. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter last year, the firm posted $3.33 EPS. On average, analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is presently 22.91%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AXP shares. Bank of America raised American Express from a "neutral" rating to a "buy" rating and decreased their target price for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Monness Crespi & Hardt increased their target price 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. William Blair restated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Wells Fargo & Company increased their price objective on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $310.00 target price on shares of American Express in a research report on Monday, April 21st. 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $296.05.

American Express 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.