American Express (NYSE:AXP) Stock Position Decreased by MCF Advisors LLC

MCF Advisors LLC cut its stake in shares of American Express (NYSE:AXP) by 30.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,707 shares of the payment services company’s stock after selling 1,211 shares during the period. MCF Advisors LLC’s holdings in American Express were worth $616,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Scarborough Advisors LLC acquired a new stake in American Express during the 4th quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in American Express during the fourth quarter valued at $28,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express in the 4th quarter worth about $28,000. Pacifica Partners Inc. acquired a new stake in American Express during the 4th quarter worth about $29,000. Finally, Baldwin Brothers LLC MA grew its stake in American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 89 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the completion of the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of American Express stock traded up $3.15 during mid-day trading on Friday, reaching $231.55. 3,901,233 shares of the stock were exchanged, compared to its average volume of 2,820,091. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.41. The company has a market cap of $166.55 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22. The firm has a 50-day simple moving average of $234.69 and a 200 day simple moving average of $215.79. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $2.40 earnings per share. On average, sell-side analysts predict that American Express will post 13 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a yield of 1.21%. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TD Cowen raised their price target on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Wells Fargo & Company boosted their price target on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Morgan Stanley boosted their price objective on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. BTIG Research initiated coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $220.30.

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.