American Express (NYSE:AXP) Shares Sold by Conning Inc.

Conning Inc. trimmed its holdings in American Express (NYSE:AXP) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,218 shares of the payment services company’s stock after selling 242 shares during the quarter. Conning Inc.’s holdings in American Express were worth $1,252,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express during the 3rd quarter worth about $29,000. True Wealth Design LLC lifted its stake in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares during the period. Financial Life Planners acquired a new position in shares of American Express during the 4th quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of American Express in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.1 %

NYSE:AXP opened at $316.72 on Friday. The firm’s 50 day moving average is $306.05 and its 200 day moving average is $279.30. American Express has a 12 month low of $207.61 and a 12 month high of $326.27. The stock has a market capitalization of $223.11 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Sell-side analysts expect that American Express will post 15.3 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is presently 19.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AXP shares. Citigroup increased their target price on shares of American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. TD Cowen upped their target price on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Compass Point dropped their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Morgan Stanley lifted their price target on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.38.

Insider Activity at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock worth $9,613,503 in the last ninety days. 0.12% of the stock is owned by company insiders.

About American Express

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.