Great Lakes Advisors LLC Lowers Position in American Express (NYSE:AXP)

Great Lakes Advisors LLC cut its holdings in shares of American Express (NYSE:AXPFree Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 343,923 shares of the payment services company’s stock after selling 16,447 shares during the quarter. Great Lakes Advisors LLC’s holdings in American Express were worth $64,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. BKM Wealth Management LLC purchased a new position in American Express during the 4th quarter valued at about $28,000. Tennessee Valley Asset Management Partners purchased a new position in American Express during the 4th quarter valued at about $28,000. Pacifica Partners Inc. purchased a new position in American Express during the 4th quarter valued at about $29,000. Baldwin Brothers LLC MA boosted its holdings in American Express by 134.8% during the 4th 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 during the period. Finally, WFA Asset Management Corp purchased a new position in American Express during the 4th quarter valued at about $30,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

AXP traded up $1.50 during trading on Friday, hitting $242.82. 1,848,915 shares of the stock were exchanged, compared to its average volume of 3,395,765. The firm has a market capitalization of $174.66 billion, a P/E ratio of 20.00, a PEG ratio of 1.37 and a beta of 1.20. American Express has a 1-year low of $140.91 and a 1-year high of $243.54. The stock has a fifty day moving average price of $228.61 and a two-hundred day moving average price of $200.79. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXPGet Free Report) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $15.79 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that American Express will post 12.99 earnings per share for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio (DPR) is 23.06%.

Insider Buying and Selling at American Express

In other American Express news, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the transaction, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the sale, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of American Express stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the completion of the sale, the executive vice president now owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on AXP. Royal Bank of Canada raised their target price on American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Barclays reaffirmed an “equal weight” rating and issued a $221.00 price target (up previously from $220.00) on shares of American Express in a research report on Tuesday, April 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $210.71.

Get Our Latest Stock Report on American Express

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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