Carret Asset Management LLC Has $14.43 Million Holdings in American Express Company (NYSE:AXP)

Carret Asset Management LLC cut its position in shares of American Express Company (NYSE:AXP) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,621 shares of the payment services company’s stock after selling 1,620 shares during the quarter. American Express comprises 1.6% of Carret Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Carret Asset Management LLC’s holdings in American Express were worth $14,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Resource Council purchased a new stake in American Express in the first quarter worth about $737,000. Proathlete Wealth Management LLC lifted its holdings in shares of American Express by 1.1% during the first quarter. Proathlete Wealth Management LLC now owns 4,424 shares of the payment services company’s stock valued at $1,194,000 after purchasing an additional 50 shares during the last quarter. Abundance Wealth Counselors boosted its position in shares of American Express by 1.2% in the 1st quarter. Abundance Wealth Counselors now owns 6,213 shares of the payment services company’s stock worth $1,672,000 after purchasing an additional 74 shares in the last quarter. Good Steward Wealth Advisors LLC purchased a new stake in shares of American Express in the 1st quarter worth approximately $210,000. Finally, Cherry Tree Wealth Management LLC increased its position in American Express by 2.0% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 2,690 shares of the payment services company’s stock valued at $724,000 after buying an additional 53 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

American Express Trading Up 1.3%

Shares of American Express stock opened at $296.54 on Friday. The stock has a market capitalization of $207.75 billion, a PE ratio of 20.71, a P/E/G ratio of 1.44 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company’s fifty day simple moving average is $282.42 and its 200-day simple moving average is $288.80. American Express Company has a 1-year low of $220.43 and a 1-year high of $326.28.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same quarter last year, the company earned $3.33 earnings per share. As a group, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.11%. American Express’s dividend payout ratio (DPR) is presently 22.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Monness Crespi & Hardt increased their price target on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.