American Express (NYSE:AXP) Shares Sold by Prostatis Group LLC

Prostatis Group LLC lessened its holdings in American Express (NYSE:AXP) by 65.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,990 shares of the payment services company’s stock after selling 3,852 shares during the period. Prostatis Group LLC’s holdings in American Express were worth $591,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter valued at approximately $29,000. Sellwood Investment Partners LLC acquired a new position in shares of American Express in the fourth quarter worth $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express in the fourth quarter valued at $33,000. Curio Wealth LLC acquired a new stake in shares of American Express during the fourth quarter valued at $37,000. Finally, Financial Life Planners purchased a new stake in American Express during the 4th quarter worth about $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on AXP shares. Royal Bank of Canada restated an “outperform” rating and issued a $310.00 target price on shares of American Express in a report on Monday, April 21st. Citigroup reduced their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. raised their target price on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. BTIG Research cut their price target on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a report on Monday, April 21st. Finally, Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $296.05.

Insider Transactions at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

American Express Trading Up 3.0%

Shares of AXP stock opened at $293.79 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The firm’s 50 day moving average price is $269.80 and its two-hundred day moving average price is $288.63. The stock has a market cap of $205.83 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

American Express (NYSE:AXP) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion for 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 last year, the firm posted $3.33 EPS. On average, analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 22.91%.

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.