GAMMA Investing LLC Takes Position in American Express (NYSE:AXP)

GAMMA Investing LLC acquired a new position in shares of American Express (NYSE:AXP) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,754 shares of the payment services company’s stock, valued at approximately $754,000.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in American Express during the 4th quarter worth about $28,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express during the 4th quarter worth about $28,000. BluePath Capital Management LLC purchased a new stake in American Express during the 3rd quarter worth about $29,000. Pacifica Partners Inc. purchased a new stake in American Express during the 4th quarter worth about $29,000. Finally, Baldwin Brothers LLC MA raised its holdings in shares of American Express by 134.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AXP shares. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on American Express from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Barclays restated an “equal weight” rating and set a $221.00 price target (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. Royal Bank of Canada raised their price target on American Express from $250.00 to $253.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, BMO Capital Markets raised their price target on American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, American Express currently has an average rating of “Hold” and an average target price of $208.24.

Insider Transactions at American Express

In other news, insider Monique Herena sold 11,242 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the completion of the transaction, the insider now owns 13,874 shares of the company’s stock, valued at $2,891,480.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Monique Herena sold 11,242 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the completion of the transaction, the insider now owns 13,874 shares of the company’s stock, valued at $2,891,480.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now directly owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. Insiders sold a total of 172,047 shares of company stock valued at $36,528,388 over the last 90 days. Company insiders own 0.11% of the company’s stock.

American Express Stock Performance

American Express stock traded up $5.88 during mid-day trading on Tuesday, reaching $238.88. 4,684,299 shares of the stock traded hands, compared to its average volume of 3,180,570. The stock has a market capitalization of $172.92 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.73 and a quick ratio of 1.63. American Express has a 12-month low of $140.91 and a 12-month high of $239.42. The business’s 50-day moving average is $220.47 and its 200-day moving average is $189.56.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 32.39% and a net margin of 14.50%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 earnings per share. As a group, sell-side analysts predict that American Express will post 12.92 EPS for the current fiscal year.

American Express Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

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.