Gateway Advisory LLC Invests $289,000 in American Express (NYSE:AXP)

Gateway Advisory LLC acquired a new position in shares of American Express (NYSE:AXP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,541 shares of the payment services company’s stock, valued at approximately $289,000.

A number of other hedge funds have also bought and sold shares of AXP. Hexagon Capital Partners LLC raised its holdings in shares of American Express by 3.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,490 shares of the payment services company’s stock valued at $279,000 after acquiring an additional 49 shares in the last quarter. Strategic Advisors LLC boosted its stake in shares of American Express by 1.1% during the fourth quarter. Strategic Advisors LLC now owns 5,244 shares of the payment services company’s stock valued at $982,000 after purchasing an additional 58 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in American Express by 4.0% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,584 shares of the payment services company’s stock valued at $297,000 after buying an additional 61 shares during the period. WASHINGTON TRUST Co raised its stake in American Express by 1.3% in the fourth quarter. WASHINGTON TRUST Co now owns 4,894 shares of the payment services company’s stock worth $917,000 after buying an additional 64 shares in the last quarter. Finally, Beaumont Financial Advisors LLC lifted its holdings in American Express by 0.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 8,786 shares of the payment services company’s stock worth $1,646,000 after buying an additional 64 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AXP shares. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price on the stock in a research report on Friday, April 5th. Wells Fargo & Company increased 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. BMO Capital Markets upped their price target on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Finally, HSBC upped their target price on American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $210.71.

Check Out Our Latest Stock Report on American Express

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the completion of the sale, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now directly owns 122,158 shares in the company, valued at $26,022,097.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. Insiders sold 316,691 shares of company stock valued at $70,856,898 in the last three months. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Performance

AXP traded up $3.16 during trading on Friday, hitting $242.30. The stock had a trading volume of 2,590,895 shares, compared to its average volume of 3,589,212. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $174.29 billion, a P/E ratio of 19.96, a PEG ratio of 1.38 and a beta of 1.20. American Express has a twelve month low of $140.91 and a twelve month high of $243.54. The company’s 50-day moving average price is $226.52 and its 200 day moving average price is $197.39.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter last year, the firm posted $2.40 earnings per share. American Express’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that American Express will post 12.99 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio is currently 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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