Overbrook Management Corp Sells 357 Shares of American Express (NYSE:AXP)

Overbrook Management Corp cut its holdings in shares of American Express (NYSE:AXP) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,437 shares of the payment services company’s stock after selling 357 shares during the period. American Express comprises approximately 0.9% of Overbrook Management Corp’s holdings, making the stock its 25th largest holding. Overbrook Management Corp’s holdings in American Express were worth $4,391,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AXP. Park Place Capital Corp boosted its position in American Express by 382.6% in the 3rd quarter. Park Place Capital Corp now owns 333 shares of the payment services company’s stock valued at $50,000 after buying an additional 264 shares during the last quarter. Meridian Wealth Management LLC boosted its position in American Express by 92.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 7,880 shares of the payment services company’s stock valued at $1,176,000 after buying an additional 3,791 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in American Express by 6.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 44,386 shares of the payment services company’s stock valued at $6,622,000 after buying an additional 2,553 shares during the last quarter. Boston Trust Walden Corp boosted its position in American Express by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 225,355 shares of the payment services company’s stock valued at $33,621,000 after buying an additional 1,251 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its position in American Express by 17.1% in the 3rd quarter. Strategic Blueprint LLC now owns 2,734 shares of the payment services company’s stock valued at $408,000 after buying an additional 400 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of NYSE AXP opened at $235.60 on Friday. The stock has a market capitalization of $169.47 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.35 and a beta of 1.23. The business has a 50-day moving average of $222.57 and a 200-day moving average of $191.45. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.63. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $240.55.

American Express (NYSE:AXP) last posted 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 return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter last year, the company posted $2.40 earnings per share. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that American Express will post 12.99 earnings per share for the current fiscal year.

American Express Cuts Dividend

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

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. Oppenheimer reissued an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Morgan Stanley increased their price target on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. William Blair reissued an “outperform” rating on shares of American Express in a research note on Friday. Finally, StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research note on Tuesday. Four research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.52.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the firm’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 completion of the sale, 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 at this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the firm’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 sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,920 shares of company stock worth $45,804,652. Company insiders own 0.12% of the company’s stock.

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.