American Express (NYSE:AXP) Shares Sold by Private Portfolio Partners LLC

Private Portfolio Partners LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,273 shares of the payment services company’s stock after selling 198 shares during the quarter. Private Portfolio Partners LLC’s holdings in American Express were worth $378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express in the 4th quarter valued at approximately $832,000. World Investment Advisors LLC lifted its stake in American Express by 430.6% during the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after purchasing an additional 3,867 shares in the last quarter. Keybank National Association OH boosted its position in shares of American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the period. LVM Capital Management Ltd. MI grew its stake in shares of American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after buying an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC raised its holdings in shares of American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 1.9 %

AXP opened at $275.64 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. The business’s 50 day moving average is $292.26 and its two-hundred day moving average is $289.76. The firm has a market cap of $193.65 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, research analysts predict 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 will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is 23.41%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AXP shares. Keefe, Bruyette & Woods lifted their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. The Goldman Sachs Group cut their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company raised their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup reduced their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Compass Point decreased their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $302.57.

Insider Buying and Selling at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.20% 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.