Bailard Inc. Boosts Stock Position in American Express (NYSE:AXP)

Bailard Inc. raised its holdings in American Express (NYSE:AXP) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,667 shares of the payment services company’s stock after buying an additional 378 shares during the quarter. Bailard Inc.’s holdings in American Express were worth $2,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venture Visionary Partners LLC lifted its position in American Express by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock worth $4,349,000 after acquiring an additional 65 shares in the last quarter. Cerity Partners LLC lifted its position in American Express by 417.3% during the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after acquiring an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. acquired a new position in American Express during the 4th quarter worth approximately $2,460,000. J.W. Cole Advisors Inc. raised its position in shares of American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after purchasing an additional 2,572 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after purchasing an additional 714,370 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other American Express news, 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 transaction, the insider now directly owns 12,388 shares in the company, valued at approximately $2,522,816.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,920 shares of company stock valued at $45,804,652. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AXP shares. Royal Bank of Canada upped their price objective on American Express from $250.00 to $253.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays reissued an “equal weight” rating and issued a $221.00 price target (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Wells Fargo & Company increased their price target on American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a research note on Friday, April 5th. Finally, HSBC raised their price target on American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $209.52.

American Express Price Performance

NYSE AXP traded down $0.88 on Friday, reaching $236.22. The company had a trading volume of 650,311 shares, compared to its average volume of 3,165,225. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $169.91 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23. The firm’s 50 day moving average price is $222.11 and its 200 day moving average price is $190.85. American Express has a 12 month low of $140.91 and a 12 month high of $240.55.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS 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 firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the previous year, the company earned $2.40 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that American Express will post 12.99 earnings per share for the current year.

American Express Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

American Express 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.