Claro Advisors LLC Acquires New Shares in American Express (NYSE:AXP)

Claro Advisors LLC bought a new position in American Express (NYSE:AXP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,356 shares of the payment services company’s stock, valued at approximately $254,000.

Several other institutional investors have also recently made changes to their positions in AXP. State Street Corp grew its position in American Express by 1.7% in the second quarter. State Street Corp now owns 30,320,053 shares of the payment services company’s stock worth $5,281,753,000 after acquiring an additional 507,042 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in American Express by 118,198.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock valued at $2,028,913,000 after acquiring an additional 13,720,460 shares during the last quarter. Morgan Stanley lifted its holdings in shares of American Express by 0.3% in the 4th quarter. Morgan Stanley now owns 12,503,902 shares of the payment services company’s stock worth $1,847,452,000 after acquiring an additional 35,760 shares during the last quarter. Northern Trust Corp raised its position in American Express by 0.6% in the 3rd quarter. Northern Trust Corp now owns 6,953,460 shares of the payment services company’s stock worth $1,037,387,000 after purchasing an additional 41,443 shares during the period. Finally, Norges Bank purchased a new stake in American Express during the fourth quarter valued at about $911,554,000. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AXP shares. Barclays lifted their price target on American Express from $216.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Monness Crespi & Hardt started coverage on American Express in a research note on Wednesday, December 20th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on American Express in a report on Wednesday, January 10th. They issued a “buy” rating and a $235.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of American Express from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $167.00 to $205.00 in a report on Thursday, January 4th. Finally, Evercore ISI boosted their price target on shares of American Express from $229.00 to $243.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $191.84.

Get Our Latest Stock Analysis on AXP

American Express Trading Down 0.1 %

Shares of NYSE:AXP opened at $227.51 on Tuesday. American Express has a 12-month low of $140.91 and a 12-month high of $231.69. The company has a market cap of $164.69 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The stock has a 50 day moving average of $213.70 and a 200 day moving average of $181.78. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). American Express had a return on equity of 30.99% and a net margin of 13.84%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16 billion. During the same quarter in the previous year, the company posted $2.07 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that American Express will post 12.83 EPS for the current year.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.18%. American Express’s dividend payout ratio is currently 21.41%.

Insiders Place Their Bets

In other news, insider Howard Grosfield sold 7,029 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at $2,522,816.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other American Express news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Monique Herena sold 11,242 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $208.41, for a total value of $2,342,945.22. Following the transaction, the insider now owns 13,874 shares of the company’s stock, valued at $2,891,480.34. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock worth $36,528,388 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

American Express Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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