Strategic Investment Advisors MI Sells 1,375 Shares of American Express (NYSE:AXP)


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Strategic Investment Advisors MI cut its holdings in shares of American Express (NYSE:AXP) by 40.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,983 shares of the payment services company’s stock after selling 1,375 shares during the period. Strategic Investment Advisors MI’s holdings in American Express were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bfsg LLC lifted its stake in American Express by 1.0% in the third quarter. Bfsg LLC now owns 16,928 shares of the payment services company’s stock valued at $1,697,000 after buying an additional 175 shares during the period. First Hawaiian Bank grew its stake in shares of American Express by 28.9% in the fourth quarter. First Hawaiian Bank now owns 30,670 shares of the payment services company’s stock worth $3,708,000 after purchasing an additional 6,881 shares during the last quarter. Boston Partners increased its holdings in American Express by 4.6% during the 3rd quarter. Boston Partners now owns 400,877 shares of the payment services company’s stock valued at $40,188,000 after purchasing an additional 17,622 shares during the period. Voloridge Investment Management LLC raised its position in American Express by 1,230.9% during the 3rd quarter. Voloridge Investment Management LLC now owns 48,204 shares of the payment services company’s stock valued at $4,832,000 after purchasing an additional 44,582 shares during the last quarter. Finally, MADDEN SECURITIES Corp purchased a new stake in American Express in the 3rd quarter worth approximately $261,000. 83.54% of the stock is owned by hedge funds and other institutional investors.

AXP opened at $122.40 on Thursday. The company has a market capitalization of $98.56 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 3.27 and a beta of 1.36. The firm has a 50-day simple moving average of $120.16 and a two-hundred day simple moving average of $105.48. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.05. American Express has a 52 week low of $67.00 and a 52 week high of $138.13.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). The firm had revenue of $8.75 billion during the quarter, compared to analysts’ expectations of $8.71 billion. American Express had a return on equity of 21.31% and a net margin of 8.84%. American Express’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 earnings per share. As a group, sell-side analysts expect that American Express will post 4.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 10th. Stockholders of record on Friday, January 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, January 7th. This represents a $1.72 annualized dividend and a dividend yield of 1.41%. American Express’s dividend payout ratio (DPR) is 20.98%.

In other American Express news, insider Anna Marrs sold 2,064 shares of American Express stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $119.56, for a total transaction of $246,771.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas E. Buckminster sold 14,827 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.85, for a total transaction of $1,435,994.95. Following the transaction, the insider now owns 96,633 shares in the company, valued at approximately $9,358,906.05. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

AXP has been the topic of several research analyst reports. Morgan Stanley boosted their target price on American Express from $115.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 30th. UBS Group upgraded shares of American Express from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $90.00 to $116.00 in a report on Tuesday, November 10th. Oppenheimer reaffirmed a “buy” rating on shares of American Express in a research report on Sunday, October 25th. Wells Fargo & Company boosted their price target on shares of American Express from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 4th. Finally, 140166 lowered shares of American Express from a “positive” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Friday, October 9th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $115.85.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.

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

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