First Citizens Bank & Trust Co. Lowers Holdings in American Express (NYSE:AXP)

First Citizens Bank & Trust Co. decreased its holdings in American Express (NYSE:AXPFree Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,625 shares of the payment services company’s stock after selling 97 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in American Express were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tyler Stone Wealth Management acquired a new stake in American Express in the second quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in American Express in the fourth quarter valued at approximately $28,000. BluePath Capital Management LLC acquired a new stake in American Express in the third quarter valued at approximately $29,000. Pacifica Partners Inc. acquired a new stake in American Express in the fourth quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA raised its holdings in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AXP. Monness Crespi & Hardt began coverage on shares of American Express in a report on Wednesday, December 20th. They issued a “neutral” rating on the stock. BMO Capital Markets raised their price objective on shares of American Express from $157.00 to $159.00 and gave the stock an “underperform” rating in a report on Monday, January 29th. Oppenheimer raised their price objective on shares of American Express from $208.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of American Express in a report on Wednesday, January 10th. They set a “buy” rating and a $235.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of American Express from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $167.00 to $205.00 in a report on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $191.84.

Check Out Our Latest Research Report on American Express

American Express Stock Performance

NYSE:AXP opened at $225.58 on Wednesday. The firm’s fifty day moving average price is $214.55 and its 200 day moving average price is $182.24. American Express has a 1-year low of $140.91 and a 1-year high of $231.69. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $163.29 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23.

American Express (NYSE:AXPGet Free Report) last issued its earnings results on Friday, January 26th. The payment services company reported $2.62 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.02). The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. American Express’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. On average, sell-side analysts expect that American Express will post 12.83 EPS for the current year.

American Express Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.18%. American Express’s payout ratio is currently 24.98%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares in the company, valued at approximately $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Monique Herena sold 11,242 shares of American Express stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,047 shares of company stock worth $36,528,388. Corporate insiders own 0.12% of the company’s stock.

American Express Profile

(Free Report)

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.

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

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