Empowered Funds LLC Acquires 421 Shares of American Express (NYSE:AXP)

Empowered Funds LLC raised its position in American Express (NYSE:AXPGet Rating) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,734 shares of the payment services company’s stock after buying an additional 421 shares during the quarter. Empowered Funds LLC’s holdings in American Express were worth $1,043,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of American Express by 2.4% in the second quarter. Legal & General Group Plc now owns 4,928,905 shares of the payment services company’s stock valued at $683,249,000 after buying an additional 115,738 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of American Express by 29.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 193,646 shares of the payment services company’s stock valued at $26,840,000 after buying an additional 44,222 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of American Express by 4.9% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 22,653 shares of the payment services company’s stock valued at $3,056,000 after buying an additional 1,052 shares during the period. Gradient Investments LLC raised its stake in shares of American Express by 9.4% in the third quarter. Gradient Investments LLC now owns 33,110 shares of the payment services company’s stock valued at $4,467,000 after buying an additional 2,839 shares during the period. Finally, Whittier Trust Co. raised its stake in shares of American Express by 3.6% in the third quarter. Whittier Trust Co. now owns 75,021 shares of the payment services company’s stock valued at $10,121,000 after buying an additional 2,606 shares during the period. 83.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $154.23, for a total value of $2,522,277.42. Following the completion of the sale, the insider now owns 99,024 shares of the company’s stock, valued at approximately $15,272,471.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Walter Joseph Clayton III bought 1,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was bought at an average price of $149.27 per share, with a total value of $149,270.00. Following the purchase, the director now owns 1,000 shares in the company, valued at approximately $149,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 16,354 shares of the business’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $154.23, for a total value of $2,522,277.42. Following the completion of the sale, the insider now directly owns 99,024 shares of the company’s stock, valued at approximately $15,272,471.52. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

American Express Trading Up 0.9 %

Shares of AXP stock opened at $155.33 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average price of $151.61 and a two-hundred day moving average price of $150.34. American Express has a 12-month low of $130.65 and a 12-month high of $199.55. The firm has a market cap of $116.07 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.14.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, January 5th. American Express’s dividend payout ratio (DPR) is currently 20.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on American Express from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Barclays lifted their price target on American Express from $145.00 to $158.00 in a research report on Friday, January 6th. BMO Capital Markets lifted their price target on American Express from $163.00 to $166.00 and gave the company a “market perform” rating in a research report on Monday, October 24th. StockNews.com assumed coverage on American Express in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Citigroup reduced their price target on American Express from $130.00 to $128.00 and set a “sell” rating for the company in a research report on Monday, October 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus target price of $170.74.

About American Express

(Get Rating)

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.

Further Reading

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

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