Ramsay Stattman Vela & Price Inc. Makes New Investment in American Express Company (NYSE:AXP)

Ramsay Stattman Vela & Price Inc. bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,231 shares of the payment services company's stock, valued at approximately $331,000.

Other large investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the 4th quarter valued at $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express in the 1st quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express during the fourth quarter worth approximately $33,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of American Express during the first quarter worth approximately $34,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 1.8%

AXP traded down $5.75 during midday trading on Friday, hitting $319.49. 2,090,080 shares of the company were exchanged, compared to its average volume of 2,847,673. The firm has a market capitalization of $223.83 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.58 and a beta of 1.25. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14. The firm's 50 day moving average price is $299.95 and its 200-day moving average price is $290.57. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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 for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the prior year, the firm posted $3.33 EPS. As a group, equities analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on AXP. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $310.00 price objective on shares of American Express in a report on Monday, April 21st. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and decreased their price target for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday. BTIG Research dropped their price target on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group lowered their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $305.74.

Insiders Place Their Bets

In other news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the transaction, the insider directly owned 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction that occurred on 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 directly owned 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by 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.