Edge Capital Group LLC Reduces Stake in American Express (NYSE:AXP)

Edge Capital Group LLC reduced its stake in shares of American Express (NYSE:AXP) by 9.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,512 shares of the payment services company’s stock after selling 549 shares during the period. Edge Capital Group LLC’s holdings in American Express were worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BKM Wealth Management LLC purchased a new position in American Express during the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners purchased a new position in shares of American Express during the 4th quarter valued at approximately $28,000. Sachetta LLC acquired a new position in shares of American Express in the 4th quarter valued at $29,000. Baldwin Brothers LLC MA boosted its holdings in American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after buying an additional 89 shares in the last quarter. Finally, WFA Asset Management Corp purchased a new position in American Express in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the completion of the transaction, the insider now owns 16,371 shares in the company, valued at $3,957,361.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,717 shares of company stock valued at $41,680,999. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AXP shares. TD Cowen increased their target price on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. BMO Capital Markets raised their price objective on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a report on Monday, April 22nd. Barclays reiterated an “equal weight” rating and set a $221.00 target price (up previously from $220.00) on shares of American Express in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley increased their price objective on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $215.50.

Check Out Our Latest Stock Analysis on AXP

American Express Stock Performance

NYSE:AXP opened at $234.66 on Thursday. The stock has a market capitalization of $168.79 billion, a P/E ratio of 19.33, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.41. The company has a 50 day moving average price of $232.38 and a 200 day moving average price of $208.79.

American Express (NYSE:AXPGet Free Report) last announced its 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. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same period last year, the business posted $2.40 EPS. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is presently 23.06%.

American Express Company 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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