Lazard Asset Management LLC Reduces Stake in American Express (NYSE:AXP)

Lazard Asset Management LLC trimmed its position in shares of American Express (NYSE:AXP) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,598,397 shares of the payment services company’s stock after selling 82,064 shares during the quarter. Lazard Asset Management LLC’s holdings in American Express were worth $474,386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AXP. Sellwood Investment Partners LLC purchased a new position in shares of American Express during the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express in the fourth quarter worth about $33,000. Curio Wealth LLC purchased a new stake in American Express in the 4th quarter worth approximately $37,000. Financial Life Planners acquired a new stake in American Express during the fourth quarter valued at $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express during the 4th quarter worth about $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $284.43 on Monday. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The stock has a market capitalization of $199.27 billion, a PE ratio of 20.30, a P/E/G ratio of 1.41 and a beta of 1.23. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $263.18 and a two-hundred day moving average of $287.22.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period last year, the firm earned $3.33 earnings per share. On average, research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, April 4th. American Express’s dividend payout ratio (DPR) is 22.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, Evercore ISI boosted their price objective on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $295.05.

Insider Buying and Selling

In other news, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

American Express 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.