American Express (NYSE:AXP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its position in American Express (NYSE:AXP) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 38,799 shares of the payment services company’s stock after selling 1,110 shares during the quarter. Hartford Investment Management Co.’s holdings in American Express were worth $7,269,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AXP. Bison Wealth LLC increased its holdings in American Express by 2.1% during the 2nd quarter. Bison Wealth LLC now owns 20,444 shares of the payment services company’s stock worth $3,561,000 after purchasing an additional 416 shares during the period. National Bank of Canada FI grew its holdings in American Express by 25.0% during the 3rd quarter. National Bank of Canada FI now owns 499,340 shares of the payment services company’s stock worth $74,584,000 after acquiring an additional 99,813 shares in the last quarter. Beutel Goodman & Co Ltd. increased its holdings in American Express by 7.6% in the second quarter. Beutel Goodman & Co Ltd. now owns 1,785,141 shares of the payment services company’s stock valued at $310,971,000 after buying an additional 125,990 shares during the last quarter. GYL Financial Synergies LLC boosted its holdings in American Express by 1.0% in the third quarter. GYL Financial Synergies LLC now owns 23,987 shares of the payment services company’s stock valued at $3,579,000 after purchasing an additional 242 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of American Express by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,663 shares of the payment services company’s stock worth $294,856,000 after buying an additional 102,132 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at $2,522,816.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,047 shares of company stock valued at $36,528,388. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on American Express from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Royal Bank of Canada raised their target price on shares of American Express from $220.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Finally, BMO Capital Markets lifted their target price on shares of American Express from $157.00 to $159.00 and gave the company an “underperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $193.68.

Check Out Our Latest Report on American Express

American Express Trading Up 0.5 %

NYSE AXP traded up $1.13 on Wednesday, hitting $226.66. The company’s stock had a trading volume of 689,618 shares, compared to its average volume of 3,078,191. The firm has a market cap of $164.07 billion, a PE ratio of 20.12, a PEG ratio of 1.28 and a beta of 1.23. The company’s 50-day moving average is $215.35 and its 200 day moving average is $182.67. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71. American Express has a 1-year low of $140.91 and a 1-year high of $231.69.

American Express (NYSE:AXPGet Free Report) last announced its earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.02). The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 earnings per share. As a group, analysts predict that American Express will post 12.83 earnings per share for the current fiscal year.

American Express Cuts Dividend

The company 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.18%. American Express’s dividend payout ratio is currently 21.41%.

About American Express

(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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