Redwood Investment Management LLC Trims Position in American Express (NYSE:AXP)

Redwood Investment Management LLC lessened its stake in shares of American Express (NYSE:AXP) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,399 shares of the payment services company’s stock after selling 110 shares during the period. Redwood Investment Management LLC’s holdings in American Express were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in American Express in the 4th quarter valued at about $832,000. Keybank National Association OH raised its holdings in American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after buying an additional 12,364 shares during the period. Edge Capital Group LLC raised its holdings in American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the period. Game Plan Financial Advisors LLC raised its holdings in American Express by 17.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock valued at $5,638,000 after buying an additional 2,826 shares during the period. Finally, NewEdge Wealth LLC raised its holdings in American Express by 6.0% in the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock valued at $7,747,000 after buying an additional 1,471 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP opened at $299.32 on Friday. The stock has a 50 day moving average price of $265.31 and a 200 day moving average price of $287.82. 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 company has a market capitalization of $209.70 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. American Express has a 52-week low of $220.43 and a 52-week high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $3.33 earnings per share. Research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.10%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. American Express’s dividend payout ratio is 22.91%.

Insider Activity at American Express

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AXP has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, April 21st. The Goldman Sachs Group cut their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. HSBC boosted their price target on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Compass Point cut their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $295.05.

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.