American Express (NYSE:AXP) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. cut its holdings in shares of American Express (NYSE:AXP) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,779 shares of the payment services company’s stock after selling 240 shares during the period. Symphony Financial Ltd. Co.’s holdings in American Express were worth $1,543,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of American Express during the fourth quarter valued at about $1,112,747,000. Artisan Partners Limited Partnership grew its stake in American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after purchasing an additional 496,153 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after purchasing an additional 667,695 shares in the last quarter. TD Asset Management Inc grew its stake in American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after purchasing an additional 919,337 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its stake in American Express by 7.4% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,067,858 shares of the payment services company’s stock worth $387,392,000 after purchasing an additional 142,763 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

NYSE:AXP traded up $3.15 during midday trading on Friday, hitting $231.55. 3,901,233 shares of the stock were exchanged, compared to its average volume of 2,820,091. American Express has a one year low of $140.91 and a one year high of $244.41. The company has a market capitalization of $166.55 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.32 and a beta of 1.22. The business has a 50-day moving average price of $234.69 and a two-hundred day moving average price of $216.11. 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 (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping 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 firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that American Express will post 13 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is 23.06%.

Insider Activity

In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now owns 258 shares in the company, valued at approximately $59,948.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Express news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the sale, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $232.36, for a total transaction of $729,842.76. Following the sale, the executive vice president now directly owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,717 shares of company stock worth $41,680,999. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. TD Cowen lifted their price target on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company lifted their target price on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Robert W. Baird lifted their target price on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $220.30.

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.