Mystic Asset Management Inc. Has $1.27 Million Holdings in American Express Company (NYSE:AXP)

Mystic Asset Management Inc. raised its position in shares of American Express Company (NYSE:AXP - Free Report) by 29.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,717 shares of the payment services company's stock after purchasing an additional 1,085 shares during the period. Mystic Asset Management Inc.'s holdings in American Express were worth $1,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Forte Capital LLC ADV raised its position in shares of American Express by 4.7% during the 1st quarter. Forte Capital LLC ADV now owns 3,966 shares of the payment services company's stock worth $1,067,000 after buying an additional 177 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of American Express by 36.9% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 29,887 shares of the payment services company's stock worth $8,041,000 after buying an additional 8,053 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of American Express by 6.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 24,191 shares of the payment services company's stock worth $6,508,000 after buying an additional 1,379 shares in the last quarter. Bailard Inc. raised its position in shares of American Express by 0.9% during the 1st quarter. Bailard Inc. now owns 10,408 shares of the payment services company's stock worth $2,800,000 after buying an additional 96 shares in the last quarter. Finally, Woodward Diversified Capital LLC raised its position in shares of American Express by 8.4% during the 1st quarter. Woodward Diversified Capital LLC now owns 809 shares of the payment services company's stock worth $218,000 after buying an additional 63 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider owned 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of American Express 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 sale, the insider owned 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. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company set a $327.00 target price on shares of American Express in a research note on Wednesday, July 2nd. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and cut their target price for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, William Blair restated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.68.

American Express Stock Performance

American Express stock traded down $6.97 during mid-day trading on Friday, reaching $308.38. The company had a trading volume of 5,478,921 shares, compared to its average volume of 2,841,088. The company has a quick ratio of 1.69, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The company has a 50 day moving average of $304.19 and a 200-day moving average of $291.09. The firm has a market cap of $216.05 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.50 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. On average, sell-side analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is presently 23.02%.

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.