Evanson Asset Management LLC Decreases Position in American Express (NYSE:AXP)

Evanson Asset Management LLC trimmed its holdings in shares of American Express (NYSE:AXPFree Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,986 shares of the payment services company’s stock after selling 209 shares during the period. Evanson Asset Management LLC’s holdings in American Express were worth $908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of American Express during the fourth quarter valued at approximately $1,112,747,000. TD Asset Management Inc grew its stake in shares of American Express by 62.1% in the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of American Express by 1,313.2% in the fourth quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after acquiring an additional 714,370 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in American Express by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after purchasing an additional 667,695 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in American Express by 969.9% in the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after acquiring an additional 546,389 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Down 0.4 %

NYSE AXP traded down $0.88 on Tuesday, hitting $230.59. The stock had a trading volume of 3,206,831 shares, compared to its average volume of 3,054,267. The business’s fifty day moving average price is $233.96 and its 200 day moving average price is $214.72. The stock has a market cap of $165.86 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. American Express has a 52-week low of $140.91 and a 52-week high of $244.41.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings data 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. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 earnings per share. Equities research analysts anticipate that American Express will post 13 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is 23.06%.

Insider Buying and Selling at American Express

In other American Express news, 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 value of $9,276,263.99. Following the sale, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anna Marrs sold 3,592 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the sale, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,717 shares of company stock valued at $41,680,999. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent research reports. Barclays reaffirmed an “equal weight” rating and issued a $221.00 price objective (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Robert W. Baird upped their price target on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. HSBC increased their price target on American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $220.30.

Check Out Our Latest Report on American Express

American Express Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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