Convergence Investment Partners LLC Purchases New Stake in American Express (NYSE:AXP)

Convergence Investment Partners LLC purchased a new stake in American Express (NYSE:AXP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,316 shares of the payment services company’s stock, valued at approximately $246,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of American Express during the fourth quarter worth $28,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of American Express during the fourth quarter worth $28,000. Baldwin Brothers LLC MA raised its holdings in shares of American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares during the period. WFA Asset Management Corp acquired a new stake in shares of American Express during the fourth quarter worth $30,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of American Express during the fourth quarter worth $29,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares in the company, valued at $18,209,855.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 122,158 shares in the company, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. Insiders sold 210,920 shares of company stock valued at $45,804,652 over the last three months. 0.11% of the stock is owned by corporate insiders.

American Express Stock Performance

NYSE:AXP opened at $235.64 on Monday. American Express has a twelve month low of $140.91 and a twelve month high of $240.55. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average of $222.57 and a 200-day moving average of $192.02. The firm has a market cap of $169.50 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. During the same quarter last year, the firm posted $2.40 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that American Express will post 12.99 earnings per share 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. Stockholders of record on Friday, April 5th will be given 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 of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Analyst Ratings Changes

A number of brokerages have weighed in on AXP. Wells Fargo & Company increased their target price on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of American Express in a report on Friday. BMO Capital Markets upped their price target on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research report on Monday, April 22nd. Evercore ISI upped their price target on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their price target on shares of American Express from $250.00 to $253.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.52.

American Express Company 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.