Gradient Investments LLC lessened its holdings in American Express (NYSE:AXP) by 24.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,182 shares of the payment services company's stock after selling 23,933 shares during the quarter. Gradient Investments LLC's holdings in American Express were worth $16,890,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Northern Trust Corp raised its stake in American Express by 0.6% during the third quarter. Northern Trust Corp now owns 6,953,460 shares of the payment services company's stock worth $1,037,387,000 after acquiring an additional 41,443 shares during the period. Norges Bank acquired a new stake in shares of American Express during the 4th quarter worth approximately $1,112,747,000. Artisan Partners Limited Partnership lifted its holdings in shares of American Express by 11.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company's stock worth $909,575,000 after purchasing an additional 496,153 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in American Express by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company's stock valued at $713,202,000 after purchasing an additional 667,695 shares during the period. Finally, TD Asset Management Inc grew its stake in American Express by 62.1% during the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company's stock worth $449,521,000 after buying an additional 919,337 shares during the last quarter. Institutional investors own 84.33% of the company's stock.
American Express Price Performance
Shares of AXP traded down $1.73 during trading hours on Friday, hitting $230.77. 3,203,304 shares of the company were exchanged, compared to its average volume of 3,577,762. The company has a market cap of $165.99 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.33 and a beta of 1.20. The firm's fifty day moving average is $224.63 and its 200 day moving average is $194.30. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $240.55. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70.
American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion during the quarter, compared to analysts' expectations of $15.79 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that American Express will post 12.99 earnings per share for the current fiscal year.
American Express Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express's dividend payout ratio is currently 23.06%.
Insider Transactions at American Express
In other American Express news, insider Monique Herena sold 11,242 shares of American Express stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the completion of the sale, the insider now directly owns 13,874 shares in the company, valued at $2,891,480.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Stephen J. Squeri sold 69,356 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Monique Herena sold 11,242 shares of American Express stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $208.41, for a total value of $2,342,945.22. Following the sale, the insider now owns 13,874 shares of the company's stock, valued at approximately $2,891,480.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,891 shares of company stock worth $44,373,196. Company insiders own 0.12% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on AXP. Monness Crespi & Hardt upgraded shares of American Express from a "neutral" rating to a "buy" rating and set a $245.00 price target for the company in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft increased their price objective on American Express from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Robert W. Baird lifted their target price on shares of American Express from $190.00 to $205.00 and gave the stock an "underperform" rating in a research report on Wednesday. StockNews.com raised American Express from a "hold" rating to a "buy" rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada increased their target price on shares of American Express from $253.00 to $263.00 and gave the stock an "outperform" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $210.71.
Read 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.
See Also
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