American Express (NYSE:AXP) Position Lowered by New England Asset Management Inc.

New England Asset Management Inc. lowered its stake in shares of American Express (NYSE:AXP - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,880 shares of the payment services company's stock after selling 2,530 shares during the quarter. New England Asset Management Inc.'s holdings in American Express were worth $3,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express during the 4th quarter worth approximately $832,000. Keybank National Association OH boosted its stake in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock worth $103,858,000 after acquiring an additional 12,364 shares in the last quarter. Edge Capital Group LLC boosted its stake in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock worth $1,915,000 after acquiring an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company's stock worth $5,638,000 after acquiring an additional 2,826 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its stake in shares of American Express by 6.0% during the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock worth $7,747,000 after acquiring an additional 1,471 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Trading Down 0.0%

Shares of AXP stock traded down $0.07 on Friday, reaching $299.48. 2,958,967 shares of the stock were exchanged, compared to its average volume of 2,839,659. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The stock has a market cap of $209.81 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $265.31 and a two-hundred day moving average of $287.82.

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 (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the prior year, the firm earned $3.33 EPS. On average, research analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were issued a $0.82 dividend. This is an increase from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, April 4th. American Express's dividend payout ratio is currently 22.91%.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the company'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 transaction, the insider now directly owns 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BTIG Research decreased 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. Keefe, Bruyette & Woods lifted their price objective on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Morgan Stanley lifted their price objective on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Royal Bank of Canada restated an "outperform" rating and set a $310.00 price objective on shares of American Express in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $295.05.

American Express 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.