Allworth Financial LP reduced its position in shares of American Express (NYSE:AXP) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,343 shares of the payment services company’s stock after selling 112 shares during the period. Allworth Financial LP’s holdings in American Express were worth $383,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC acquired a new stake in American Express during the fourth quarter worth about $221,000. Global Retirement Partners LLC increased its position in American Express by 3.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,301 shares of the payment services company’s stock worth $867,000 after purchasing an additional 155 shares during the last quarter. Linker Capital Management Inc. acquired a new stake in American Express during the fourth quarter worth about $1,579,000. GFS Advisors LLC increased its position in American Express by 8.1% during the fourth quarter. GFS Advisors LLC now owns 31,495 shares of the payment services company’s stock worth $5,153,000 after purchasing an additional 2,350 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in American Express by 11.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,941 shares of the payment services company’s stock worth $481,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.
AXP has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of American Express from $204.00 to $206.00 in a research report on Thursday, March 17th. Wells Fargo & Company lifted their price target on shares of American Express from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, January 26th. Stephens lifted their price target on shares of American Express from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, January 26th. Finally, Daiwa Capital Markets upgraded shares of American Express from a “neutral” rating to a “buy” rating and lifted their price target for the company from $190.00 to $215.00 in a research report on Thursday, February 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $197.41.
In other news, EVP Quinn Jessica Lieberman sold 1,804 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $191.42, for a total transaction of $345,321.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laureen Seeger sold 30,808 shares of the business’s stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $175.57, for a total transaction of $5,408,960.56. The disclosure for this sale can be found here. Insiders have sold a total of 440,177 shares of company stock valued at $81,094,533 in the last 90 days. Insiders own 0.20% of the company’s stock.
Shares of American Express stock opened at $186.02 on Thursday. American Express has a 52-week low of $136.76 and a 52-week high of $199.55. The company has a 50 day moving average of $181.13 and a 200 day moving average of $173.60. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $141.26 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.68 and a beta of 1.12.
American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings results on Tuesday, January 25th. The payment services company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.40. American Express had a net margin of 18.92% and a return on equity of 33.20%. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, research analysts anticipate that American Express will post 9.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 10th. Investors of record on Friday, April 8th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.12%. This is an increase from American Express’s previous quarterly dividend of $0.43. American Express’s payout ratio is currently 17.22%.
American Express Company Profile (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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