Sachetta LLC Invests $29,000 in American Express (NYSE:AXP)

Sachetta LLC purchased a new position in American Express (NYSE:AXP) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 153 shares of the payment services company’s stock, valued at approximately $29,000.

A number of other institutional investors also recently made changes to their positions in AXP. BKM Wealth Management LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of American Express in the 4th quarter worth approximately $28,000. Pacifica Partners Inc. bought a new stake in shares of American Express in the 4th quarter worth approximately $29,000. Baldwin Brothers LLC MA raised its holdings in shares of American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares in the last quarter. Finally, WFA Asset Management Corp bought a new stake in shares of American Express in the 4th quarter worth approximately $30,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 1.2 %

Shares of NYSE AXP opened at $240.10 on Thursday. The firm has a market capitalization of $172.70 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1 year low of $140.91 and a 1 year high of $244.41. The firm’s 50-day moving average is $229.80 and its 200-day moving average is $203.10.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. During the same quarter last year, the firm earned $2.40 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts expect that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $0.70 per share. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 1.17%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of American Express from $221.00 to $225.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Wells Fargo & Company upped their price objective on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Barclays reissued an “equal weight” rating and issued a $221.00 price target (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. William Blair reissued an “outperform” rating on shares of American Express in a report on Friday, April 26th. Finally, Oppenheimer restated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $210.71.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 in the last 90 days. 0.12% of the stock is owned by insiders.

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.