American Express (NYSE:AXP) Shares Acquired by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC increased its position in American Express (NYSE:AXP) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,440 shares of the payment services company’s stock after buying an additional 1,639 shares during the quarter. American Express comprises approximately 0.1% of Hartford Funds Management Co LLC’s holdings, making the stock its 13th largest position. Hartford Funds Management Co LLC’s holdings in American Express were worth $1,394,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Savant Capital LLC lifted its holdings in shares of American Express by 5.9% during the fourth quarter. Savant Capital LLC now owns 39,739 shares of the payment services company’s stock valued at $7,445,000 after purchasing an additional 2,219 shares during the last quarter. Brighton Jones LLC lifted its position in shares of American Express by 11.5% during the 4th quarter. Brighton Jones LLC now owns 4,746 shares of the payment services company’s stock worth $889,000 after purchasing an additional 491 shares during the last quarter. Mission Wealth Management LP increased its stake in American Express by 1.8% during the fourth quarter. Mission Wealth Management LP now owns 9,998 shares of the payment services company’s stock valued at $1,873,000 after acquiring an additional 178 shares during the period. Firestone Capital Management bought a new position in American Express during the fourth quarter valued at about $228,000. Finally, WealthTrust Axiom LLC increased its stake in American Express by 79.9% during the fourth quarter. WealthTrust Axiom LLC now owns 5,035 shares of the payment services company’s stock valued at $943,000 after acquiring an additional 2,236 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of American Express stock traded down $4.79 on Tuesday, reaching $234.13. 3,562,762 shares of the company traded hands, compared to its average volume of 3,206,016. American Express has a 52 week low of $140.91 and a 52 week high of $240.55. The company has a 50 day moving average of $223.53 and a 200 day moving average of $193.22. The firm has a market capitalization of $168.41 billion, a PE ratio of 19.29, a PEG ratio of 1.34 and a beta of 1.23. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. American Express’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.40 EPS. Equities analysts forecast that American Express will post 12.99 earnings per share for the current year.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXP. Royal Bank of Canada upped their price objective on American Express from $250.00 to $253.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of American Express in a report on Friday, April 5th. UBS Group increased their price target on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company upped their price objective on shares of American Express from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Finally, DZ Bank cut American Express from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $209.52.

Insider Transactions at American Express

In related news, insider Monique Herena sold 11,242 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the transaction, the insider now owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other American Express news, insider Monique Herena sold 11,242 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $208.41, for a total value of $2,342,945.22. Following the sale, the insider now owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 203,891 shares of company stock valued at $44,373,196 in the last quarter. Insiders own 0.11% of the company’s stock.

American Express Profile

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.