Global Assets Advisory LLC Acquires New Stake in American Express Company (NYSE:AXP)

Global Assets Advisory LLC purchased a new position in shares of American Express Company (NYSE:AXP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,531 shares of the payment services company's stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXP. Unison Asset Management LLC increased its holdings in American Express by 1.8% in the 1st quarter. Unison Asset Management LLC now owns 35,481 shares of the payment services company's stock valued at $9,546,000 after purchasing an additional 622 shares during the last quarter. Navis Wealth Advisors LLC boosted its position in shares of American Express by 368.7% during the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after buying an additional 2,791 shares during the period. Balboa Wealth Partners grew its stake in shares of American Express by 14.4% in the first quarter. Balboa Wealth Partners now owns 6,513 shares of the payment services company's stock valued at $1,752,000 after buying an additional 820 shares in the last quarter. Berry Wealth Group LP purchased a new stake in shares of American Express in the 1st quarter valued at $296,000. Finally, Hi Line Capital Management LLC lifted its stake in American Express by 2.2% during the 1st quarter. Hi Line Capital Management LLC now owns 19,301 shares of the payment services company's stock worth $5,193,000 after acquiring an additional 414 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 1.9%

Shares of NYSE:AXP traded up $6.06 during trading on Friday, hitting $317.48. 4,605,056 shares of the company were exchanged, compared to its average volume of 2,835,928. The firm's 50 day moving average price is $287.57 and its 200-day moving average price is $288.94. American Express Company has a 12-month low of $220.43 and a 12-month high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market capitalization of $222.43 billion, a P/E ratio of 22.17, a PEG ratio of 1.52 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analysts' expectations 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 in the previous year, the company earned $3.33 earnings per share. On average, research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is 22.91%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Argus downgraded American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $310.00 price objective on shares of American Express in a report on Monday, April 21st. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. William Blair reissued an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. increased their price objective on American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $296.05.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares of the company's stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction 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 sale, the insider now owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.