American Express Company (NYSE:AXP) Shares Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP has increased its stake in American Express by 14.5%, acquiring an additional 3,025 shares, bringing its total holdings to 23,920 shares valued at $6.436 million.
• American Express recently announced a quarterly dividend of $0.82 per share, representing a 1.1% yield, with payment set for August 8th.
• Wall Street analysts have set an average price target of $311.05 for American Express, with eight analysts giving a buy rating, while two have rated it a sell.

CenterBook Partners LP lifted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,920 shares of the payment services company's stock after purchasing an additional 3,025 shares during the quarter. CenterBook Partners LP's holdings in American Express were worth $6,436,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AXP. Investment Management Corp VA ADV acquired a new stake in shares of American Express during the fourth quarter worth $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express during the first quarter worth $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the first quarter worth $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of American Express during the first quarter worth $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Analyst Ratings Changes

AXP has been the topic of several research reports. Barclays increased their target price on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Morgan Stanley increased their target price on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Bank of America raised American Express from a "neutral" rating to a "buy" rating and cut their target price for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. Finally, BTIG Research set a $277.00 target price on American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, American Express currently has an average rating of "Hold" and an average price target of $311.05.

Insider Activity at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,219 shares of company stock valued at $40,555,901. Insiders own 0.20% of the company's stock.

American Express Stock Up 0.9%

AXP traded up $2.68 on Friday, reaching $297.41. The company's stock had a trading volume of 1,778,023 shares, compared to its average volume of 2,640,008. The stock has a market cap of $206.96 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The business's 50 day moving average is $306.59 and its 200 day moving average is $290.91.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. American Express's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 earnings per share. As a group, research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. American Express's dividend payout ratio is currently 23.02%.

About American Express

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.