Private Advisor Group LLC Cuts Holdings in American Express (AXP)

Private Advisor Group LLC cut its stake in American Express (NYSE:AXP) by 53.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,003 shares of the payment services company’s stock after selling 15,810 shares during the quarter. Private Advisor Group LLC’s holdings in American Express were worth $1,308,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. increased its position in shares of American Express by 13.3% during the fourth quarter. Hennessy Advisors Inc. now owns 17,000 shares of the payment services company’s stock worth $1,688,000 after acquiring an additional 2,000 shares during the last quarter. Ellington Management Group LLC purchased a new stake in shares of American Express during the fourth quarter worth about $238,000. Brown Advisory Inc. increased its position in shares of American Express by 32.1% during the fourth quarter. Brown Advisory Inc. now owns 299,622 shares of the payment services company’s stock worth $29,757,000 after acquiring an additional 72,859 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of American Express by 7.6% during the fourth quarter. Victory Capital Management Inc. now owns 45,889 shares of the payment services company’s stock worth $4,557,000 after acquiring an additional 3,231 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of American Express by 1.3% during the fourth quarter. American International Group Inc. now owns 295,442 shares of the payment services company’s stock worth $29,340,000 after acquiring an additional 3,713 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

Shares of American Express opened at $101.93 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a 52 week low of $75.98 and a 52 week high of $103.24. The company has a market capitalization of $88.36 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.38 and a beta of 1.13.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.15. American Express had a return on equity of 28.41% and a net margin of 8.79%. The company had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. American Express’s quarterly revenue was up 11.6% compared to the same quarter last year. analysts predict that American Express will post 7.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, July 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.37%. American Express’s payout ratio is currently 23.85%.

AXP has been the topic of a number of analyst reports. TheStreet raised American Express from a “c+” rating to a “b+” rating in a research report on Wednesday, April 18th. Citigroup initiated coverage on American Express in a research report on Thursday, April 5th. They set a “buy” rating and a $110.00 target price on the stock. UBS initiated coverage on American Express in a research report on Tuesday, March 27th. They set a “buy” rating and a $111.00 target price on the stock. Sandler O’Neill set a $109.00 target price on American Express and gave the stock a “buy” rating in a research report on Thursday, March 15th. Finally, Oppenheimer set a $117.00 target price on American Express and gave the stock a “buy” rating in a research report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. American Express has a consensus rating of “Hold” and an average price target of $107.45.

In other news, insider L Kevin Cox sold 33,777 shares of the business’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the completion of the transaction, the insider now directly owns 19,249 shares in the company, valued at $1,935,294.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total value of $882,450.00. Following the transaction, the chief financial officer now owns 79,978 shares of the company’s stock, valued at $7,841,842.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,252 shares of company stock valued at $5,800,027. 0.20% of the stock is currently owned by insiders.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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