American Express (AXP) Holdings Reduced by LLBH Private Wealth Management LLC

LLBH Private Wealth Management LLC lowered its holdings in American Express (NYSE:AXP) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,581 shares of the payment services company’s stock after selling 680 shares during the quarter. LLBH Private Wealth Management LLC’s holdings in American Express were worth $750,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in American Express in the second quarter valued at $115,000. Zions Bancorporation lifted its holdings in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares during the period. Westside Investment Management Inc. lifted its holdings in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares during the period. WFG Advisors LP lifted its holdings in American Express by 38.8% in the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after acquiring an additional 438 shares during the period. Finally, First Dallas Securities Inc. acquired a new stake in American Express in the fourth quarter valued at $139,000. 83.37% of the stock is owned by institutional investors.

A number of equities research analysts have commented on the company. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Wednesday, November 1st. Morgan Stanley raised their target price on American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Guggenheim downgraded American Express from a “buy” rating to a “neutral” rating and raised their target price for the company from $98.03 to $102.00 in a report on Monday, January 22nd. Deutsche Bank initiated coverage on American Express in a research note on Tuesday, January 2nd. They set a “buy” rating and a $118.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $126.00 price target on shares of American Express in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average price target of $102.68.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the sale, the chief executive officer now owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the sale, the insider now owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,110 shares of company stock valued at $31,858,001. 0.67% of the stock is currently owned by company insiders.

Shares of American Express (NYSE AXP) opened at $96.79 on Friday. The company has a market capitalization of $84,013.33, a PE ratio of 16.43, a P/E/G ratio of 1.32 and a beta of 1.19. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. The firm had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. analysts expect that American Express will post 7.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, January 4th. American Express’s dividend payout ratio is presently 48.28%.

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American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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