IFG Advisory LLC Sells 1,517 Shares of American Express (NYSE:AXP)

IFG Advisory LLC lowered its position in American Express (NYSE:AXP) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,423 shares of the payment services company’s stock after selling 1,517 shares during the quarter. IFG Advisory LLC’s holdings in American Express were worth $1,765,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in American Express in the fourth quarter valued at $28,000. Baldwin Brothers LLC MA lifted its stake in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 89 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in American Express in the second quarter valued at $27,000. Pacifica Partners Inc. acquired a new stake in American Express in the fourth quarter valued at $29,000. Finally, BluePath Capital Management LLC acquired a new stake in American Express in the third quarter valued at $29,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AXP shares. Oppenheimer increased their price objective on shares of American Express from $208.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Barclays increased their price objective on shares of American Express from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Monness Crespi & Hardt started coverage on shares of American Express in a research report on Wednesday, December 20th. They issued a “neutral” rating on the stock. UBS Group increased their price objective on shares of American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Morgan Stanley lowered shares of American Express from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $212.00 to $222.00 in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $189.00.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the sale, the insider now directly owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares in the company, valued at $2,522,816.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,047 shares of company stock valued at $36,528,388. 0.12% of the stock is owned by insiders.

American Express Stock Performance

Shares of AXP stock opened at $227.79 on Thursday. The firm has a market capitalization of $164.89 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The firm has a fifty day simple moving average of $210.92 and a two-hundred day simple moving average of $180.31. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. American Express has a 12 month low of $140.91 and a 12 month high of $231.69.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. American Express’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 earnings per share. Analysts forecast that American Express will post 12.83 EPS for the current fiscal year.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is currently 24.98%.

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.