Lazard Asset Management LLC Trims Position in American Express (NYSE:AXP)

Lazard Asset Management LLC reduced its position in American Express (NYSE:AXP - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,598,397 shares of the payment services company's stock after selling 82,064 shares during the quarter. Lazard Asset Management LLC owned about 0.23% of American Express worth $474,386,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Lionshead Wealth Management LLC bought a new stake in American Express during the fourth quarter valued at approximately $369,000. Investment Management Corp of Ontario lifted its position in American Express by 76.2% during the fourth quarter. Investment Management Corp of Ontario now owns 43,056 shares of the payment services company's stock valued at $12,779,000 after purchasing an additional 18,615 shares during the last quarter. Investor s Fiduciary Advisor Network LLC bought a new stake in American Express during the fourth quarter valued at approximately $452,000. Jefferies Financial Group Inc. bought a new stake in American Express during the fourth quarter valued at approximately $523,000. Finally, Guardian Wealth Advisors LLC NC lifted its position in American Express by 1.5% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 2,795 shares of the payment services company's stock valued at $830,000 after purchasing an additional 42 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research report on Friday, March 14th. HSBC lifted their price target on shares of American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Citigroup decreased their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Argus downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, BTIG Research decreased their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $295.05.

American Express Stock Down 0.0%

AXP traded down $0.07 during midday trading on Friday, reaching $299.48. The company's stock had a trading volume of 2,958,967 shares, compared to its average volume of 2,838,859. The firm has a market capitalization of $209.81 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.41 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 1 year low of $220.43 and a 1 year high of $326.28. The stock's 50-day moving average is $266.20 and its 200-day moving average is $288.02.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping 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 analysts' expectations of $17.04 billion. During the same quarter in the prior year, the company earned $3.33 earnings per share. As a group, research analysts expect 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 was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were issued a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.10%. American Express's dividend payout ratio is presently 22.91%.

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.