American Express (NYSE:AXP) Shares Sold by Courier Capital LLC

Courier Capital LLC decreased its holdings in shares of American Express (NYSE:AXP) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,890 shares of the payment services company’s stock after selling 600 shares during the quarter. Courier Capital LLC’s holdings in American Express were worth $3,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in American Express during the fourth quarter worth $28,000. Baldwin Brothers LLC MA increased its stake 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 acquiring an additional 89 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in American Express during the second quarter worth $27,000. Pacifica Partners Inc. acquired a new stake in American Express during the fourth quarter worth $29,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of American Express in the third quarter valued at $29,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 1.5 %

American Express stock opened at $227.79 on Thursday. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $231.69. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $164.89 billion, a P/E ratio of 20.32, a PEG ratio of 1.27 and a beta of 1.23. The stock has a 50-day simple moving average of $210.92 and a 200-day simple moving average of $180.31.

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

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is presently 24.98%.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now 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 accessible through this hyperlink. In related news, insider Monique Herena sold 11,242 shares of the business’s stock in a transaction dated 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 owns 13,874 shares in the company, valued at approximately $2,891,480.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. Insiders have sold 172,047 shares of company stock worth $36,528,388 in the last quarter. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. Barclays lifted their price objective on American Express from $216.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Monness Crespi & Hardt began coverage on American Express in a research note on Wednesday, December 20th. They set a “neutral” rating for the company. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on American Express in a research note on Wednesday, January 10th. They set a “buy” rating and a $235.00 target price for the company. Finally, StockNews.com cut American Express from a “buy” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $189.00.

American Express Company Profile

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.