Farther Finance Advisors LLC Sells 604 Shares of American Express (NYSE:AXP)

Farther Finance Advisors LLC trimmed its holdings in American Express (NYSE:AXP) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,301 shares of the payment services company’s stock after selling 604 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Express were worth $1,573,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXP. Prospera Private Wealth LLC bought a new stake in American Express in the 3rd quarter worth about $27,000. True Wealth Design LLC increased its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in American Express in the 3rd quarter worth about $38,000. Financial Life Planners bought a new stake in American Express in the 4th quarter worth about $38,000. Finally, Sierra Ocean LLC bought a new stake in American Express in the 4th quarter worth about $40,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 1.7 %

Shares of AXP opened at $256.31 on Friday. The business’s 50 day moving average is $302.33 and its 200 day moving average is $287.88. The company has a market capitalization of $180.07 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Research analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Activity at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value 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. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AXP. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Monness Crespi & Hardt raised their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Morgan Stanley raised their target price on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Citigroup raised their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $296.38.

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.