American Express (NYSE:AXP) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its position in shares of American Express (NYSE:AXP) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,352 shares of the payment services company’s stock after acquiring an additional 625 shares during the quarter. Wealthspire Advisors LLC’s holdings in American Express were worth $1,190,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Venture Visionary Partners LLC increased its stake in American Express by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after acquiring an additional 609 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of American Express by 417.3% during the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after purchasing an additional 335,338 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in shares of American Express during the fourth quarter worth about $2,460,000. Finally, J.W. Cole Advisors Inc. lifted its holdings 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 during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

NYSE AXP traded up $2.73 on Friday, reaching $241.87. 237,568 shares of the stock traded hands, compared to its average volume of 3,146,573. American Express has a 12 month low of $140.91 and a 12 month high of $243.54. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm’s fifty day simple moving average is $225.67 and its 200 day simple moving average is $196.42. The company has a market cap of $173.98 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.32 and a beta of 1.20.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating 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 business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. During the same period in the prior year, the business posted $2.40 earnings per share. American Express’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts predict that American Express will post 12.99 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio is 23.06%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AXP shares. Morgan Stanley lifted their target price on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Wells Fargo & Company increased their target price on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Evercore ISI boosted their price target on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a research report on Wednesday, April 24th. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Finally, UBS Group upped their price target on American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $210.71.

Insider Activity at American Express

In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the completion of the transaction, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were 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 316,691 shares of company stock valued at $70,856,898. Corporate insiders own 0.11% of the company’s stock.

About American Express

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.