Wedbush Securities Inc. Reduces Holdings in American Express (NYSE:AXP)

Wedbush Securities Inc. reduced its stake in American Express (NYSE:AXP) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,003 shares of the payment services company’s stock after selling 1,776 shares during the period. Wedbush Securities Inc.’s holdings in American Express were worth $6,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in American Express during the 4th quarter valued at $1,785,867,000. Proficio Capital Partners LLC raised its stake in shares of American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after acquiring an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of American Express during the fourth quarter worth about $292,081,000. World Investment Advisors LLC raised its position in American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after purchasing an additional 316,219 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction on Wednesday, February 5th. The stock was 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. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Monness Crespi & Hardt raised their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Citigroup reduced their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Morgan Stanley lifted their price objective on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group decreased their target price on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $302.24.

American Express Price Performance

Shares of NYSE:AXP opened at $233.50 on Friday. The business has a 50-day simple moving average of $288.96 and a two-hundred day simple moving average of $289.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a market cap of $164.04 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. On average, analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.40%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

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.