American Express (NYSE:AXP) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its holdings in American Express (NYSE:AXP) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,130 shares of the payment services company’s stock after selling 10,580 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in American Express were worth $18,928,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AXP. Kingswood Wealth Advisors LLC purchased a new position in American Express in the 4th quarter worth approximately $347,000. Planned Solutions Inc. acquired a new position in shares of American Express during the fourth quarter worth $61,000. Inscription Capital LLC acquired a new position in shares of American Express during the fourth quarter worth $204,000. Global Retirement Partners LLC grew its stake in shares of American Express by 4.4% during the fourth quarter. Global Retirement Partners LLC now owns 6,483 shares of the payment services company’s stock worth $1,173,000 after purchasing an additional 274 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in American Express in the fourth quarter valued at $118,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP stock traded up $0.86 on Monday, reaching $246.75. The company had a trading volume of 1,082,556 shares, compared to its average volume of 3,002,941. The business’s 50-day moving average is $236.19 and its 200 day moving average is $224.20. American Express has a one year low of $140.91 and a one year high of $253.73. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $175.42 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 EPS. Equities research analysts forecast that American Express will post 13.24 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost 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 presently 23.06%.

Insider Buying and Selling

In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the transaction, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the transaction, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. 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 firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the transaction, the executive vice president now owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. Insiders have sold a total of 138,844 shares of company stock worth $32,404,735 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of research reports. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. HSBC upped their target price on shares of American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. TD Cowen increased their price target on shares of American Express from $221.00 to $225.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express 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.