Miller Financial Services LLC Makes New Investment in American Express (NYSE:AXP)

Miller Financial Services LLC acquired a new position in American Express (NYSE:AXP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,360 shares of the payment services company’s stock, valued at approximately $700,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC grew its position in American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares in the last quarter. Catalina Capital Group LLC grew its position in American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after acquiring an additional 34 shares during the last quarter. Auxier Asset Management boosted its stake in American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the last quarter. Finally, Abel Hall LLC boosted its stake in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after acquiring an additional 35 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

NYSE AXP opened at $261.27 on Tuesday. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market capitalization of $183.55 billion, a PE ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 1.21. The company’s 50 day simple moving average is $304.72 and its two-hundred day simple moving average is $288.26.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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%. Analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.26%. American Express’s dividend payout ratio is presently 23.41%.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on 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 transaction, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction 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 directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AXP shares. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Royal Bank of Canada boosted their target price on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Morgan Stanley upped their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, HSBC upped their price target on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American Express has an average 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.