Foster Dykema Cabot & Partners LLC Has $31.27 Million Stock Holdings in American Express Company (NYSE:AXP)

Key Points

• Foster Dykema Cabot & Partners LLC has increased its stake in American Express by 1.8%, now owning a total of 116,223 shares, valued at approximately $31.27 million.
• American Express saw a positive earnings announcement, reporting $4.08 EPS for the quarter, exceeding consensus estimates of $3.86.
• The company declared a quarterly dividend of $0.82 per share, with an annualized dividend yield of 1.1%, to be paid on August 8th.

Foster Dykema Cabot & Partners LLC lifted its position in shares of American Express Company (NYSE:AXP - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,223 shares of the payment services company's stock after buying an additional 2,060 shares during the period. American Express comprises about 2.5% of Foster Dykema Cabot & Partners LLC's investment portfolio, making the stock its 8th largest holding. Foster Dykema Cabot & Partners LLC's holdings in American Express were worth $31,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in American Express by 5.5% in the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of American Express by 1.4% during the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock worth $45,243,000 after purchasing an additional 2,259 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in American Express by 6.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock worth $25,088,000 after purchasing an additional 5,693 shares during the last quarter. Navis Wealth Advisors LLC boosted its stake in American Express by 368.7% in the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock valued at $955,000 after purchasing an additional 2,791 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in American Express by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company's stock valued at $25,679,000 after buying an additional 7,822 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Trading Up 0.9%

Shares of AXP stock traded up $2.68 during mid-day trading on Friday, hitting $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 company's fifty day simple moving average is $306.59 and its 200-day simple moving average is $290.91. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company has a market cap of $206.96 billion, a PE ratio of 20.87, a P/E/G ratio of 1.56 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last issued its 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. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the company posted $3.49 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research reports. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Morgan Stanley upped their price objective on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. BTIG Research set a $277.00 price objective on American Express and gave the company a "sell" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $311.05.

Insider Activity at American Express

In related news, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. The trade was a 65.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,219 shares of company stock valued at $40,555,901 in the last three months. Corporate insiders own 0.20% of the company's stock.

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.