Altium Wealth Management LLC lifted its stake in shares of American Express (NYSE:AXP) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,288 shares of the payment services company’s stock after purchasing an additional 538 shares during the quarter. Altium Wealth Management LLC’s holdings in American Express were worth $2,028,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of AXP. Garrett Wealth Advisory Group LLC acquired a new position in American Express during the third quarter worth about $27,000. Winthrop Partners WNY LLC purchased a new position in American Express in the 3rd quarter worth about $30,000. Corbenic Partners LLC purchased a new position in American Express in the 4th quarter worth about $34,000. FNY Investment Advisers LLC purchased a new position in American Express in the 3rd quarter worth about $35,000. Finally, Enterprise Trust & Investment Co purchased a new position in American Express in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
In other news, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the completion of the sale, the chief executive officer now directly owns 184,090 shares in the company, valued at approximately $21,715,256.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Denise Pickett sold 2,400 shares of American Express stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the sale, the insider now owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,820 shares of company stock valued at $3,033,961. 0.21% of the stock is owned by corporate insiders.
Shares of American Express stock traded up $1.28 during trading on Friday, hitting $131.83. 73,968 shares of the stock traded hands, compared to its average volume of 2,860,822. The stock has a market cap of $105.39 billion, a P/E ratio of 17.98, a PEG ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. American Express has a twelve month low of $96.37 and a twelve month high of $130.93. The company has a fifty day moving average price of $123.91 and a two-hundred day moving average price of $121.66.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. On average, equities research analysts expect that American Express will post 8.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.30%. This is a positive change from American Express’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 2nd. American Express’s payout ratio is currently 23.47%.
A number of equities analysts recently weighed in on the company. BMO Capital Markets lifted their price target on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Wells Fargo & Co reaffirmed a “buy” rating on shares of American Express in a research note on Friday, December 6th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, December 10th. Nomura lifted their target price on American Express from to and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird started coverage on American Express in a research note on Wednesday, January 8th. They set a “neutral” rating and a $124.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $127.29.
About American Express
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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