Kovitz Investment Group Partners LLC lifted its stake in shares of American Express (NYSE:AXP - Free Report) by 346.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,021,873 shares of the payment services company's stock after buying an additional 1,568,747 shares during the quarter. American Express comprises 2.0% of Kovitz Investment Group Partners LLC's portfolio, making the stock its 13th largest position. Kovitz Investment Group Partners LLC owned approximately 0.29% of American Express worth $600,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the stock. Stonebridge Capital Advisors LLC lifted its position in American Express by 2.3% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 2,478 shares of the payment services company's stock valued at $736,000 after acquiring an additional 55 shares during the period. Hancock Whitney Corp boosted its position in shares of American Express by 0.9% in the 4th quarter. Hancock Whitney Corp now owns 73,013 shares of the payment services company's stock worth $21,670,000 after purchasing an additional 640 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of American Express by 2.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 18,268 shares of the payment services company's stock worth $5,422,000 after buying an additional 371 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in American Express by 4.0% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 174,093 shares of the payment services company's stock valued at $51,836,000 after buying an additional 6,662 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its stake in American Express by 2.5% during the fourth quarter. Evercore Wealth Management LLC now owns 14,031 shares of the payment services company's stock valued at $4,164,000 after buying an additional 343 shares during the last quarter. 84.33% of the stock is owned by institutional investors.
Insider Transactions at American Express
In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.
American Express Stock Down 1.7 %
Shares of AXP stock traded down $4.63 during trading hours on Wednesday, reaching $262.39. 881,560 shares of the company's stock were exchanged, compared to its average volume of 2,825,357. The stock has a market cap of $183.83 billion, a PE ratio of 18.73, a PEG ratio of 1.41 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock's fifty day moving average price is $266.01 and its two-hundred day moving average price is $287.11. American Express has a 1 year low of $220.43 and a 1 year high of $326.28.
American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the business posted $3.33 EPS. Research analysts predict that American Express will post 15.33 EPS for the current year.
American Express Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's payout ratio is presently 22.91%.
Wall Street Analyst Weigh In
AXP has been the subject of several recent analyst reports. Monness Crespi & Hardt lifted their price target on American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. BTIG Research cut their price objective on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. Morgan Stanley lifted their price target on shares of American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Finally, StockNews.com cut shares of American Express from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $295.05.
View Our Latest Analysis on AXP
About American Express
(
Free Report)
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.
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