Parr Mcknight Wealth Management Group LLC Acquires New Holdings in American Express (NYSE:AXP)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,026 shares of the payment services company’s stock, valued at approximately $305,000.

Several other institutional investors have also recently modified their holdings of AXP. Capital & Planning LLC acquired a new position in shares of American Express during the 4th quarter worth approximately $213,000. Wesbanco Bank Inc. lifted its holdings in American Express by 16.9% in the 4th quarter. Wesbanco Bank Inc. now owns 4,883 shares of the payment services company’s stock valued at $1,449,000 after purchasing an additional 705 shares in the last quarter. Mutual Advisors LLC lifted its holdings in American Express by 5.2% in the 4th quarter. Mutual Advisors LLC now owns 8,259 shares of the payment services company’s stock valued at $2,573,000 after purchasing an additional 410 shares in the last quarter. Secure Asset Management LLC purchased a new position in American Express in the 4th quarter valued at about $299,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in American Express in the 4th quarter valued at about $212,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.6%

AXP opened at $285.32 on Friday. The firm has a 50 day moving average price of $269.05 and a 200 day moving average price of $288.64. The company has a market cap of $199.89 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. American Express has a 1 year low of $220.43 and a 1 year high of $326.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping 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 net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the prior year, the company earned $3.33 EPS. Sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

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

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares of the company’s stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the sale, the insider now directly owns 9,402 shares of the company’s stock, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird upgraded shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a report on Friday, March 14th. The Goldman Sachs Group reduced their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley upped their target price on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and reduced their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $296.05.

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.