Eagle Asset Management Inc. Acquires 542 Shares of American Express (NYSE:AXP)

Eagle Asset Management Inc. increased its holdings in shares of American Express (NYSE:AXP) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,431 shares of the payment services company’s stock after purchasing an additional 542 shares during the period. Eagle Asset Management Inc.’s holdings in American Express were worth $643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Atria Wealth Solutions Inc. grew its stake in shares of American Express by 9.8% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 51,159 shares of the payment services company’s stock worth $7,632,000 after acquiring an additional 4,573 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in American Express by 25.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 176,023 shares of the payment services company’s stock valued at $26,261,000 after buying an additional 35,650 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in American Express in the 3rd quarter valued at $276,000. D.A. Davidson & CO. lifted its position in American Express by 22.2% during the 3rd quarter. D.A. Davidson & CO. now owns 28,693 shares of the payment services company’s stock worth $4,281,000 after buying an additional 5,212 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in shares of American Express by 36.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,893 shares of the payment services company’s stock worth $1,028,000 after buying an additional 1,836 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. TD Cowen upped their target price on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Wells Fargo & Company upped their price objective on American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their price target on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research report on Monday, April 22nd. Finally, StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus price target of $215.50.

View Our Latest Analysis on American Express

American Express Trading Down 1.1 %

Shares of NYSE:AXP opened at $234.66 on Thursday. The business’s 50 day simple moving average is $232.38 and its 200 day simple moving average is $208.79. American Express has a 1 year low of $140.91 and a 1 year high of $244.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $168.79 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.35 and a beta of 1.22.

American Express (NYSE:AXPGet Free Report) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 EPS. On average, research analysts anticipate that American Express will post 13.01 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.70 per share. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.19%. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Insider Buying and Selling

In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Express news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,717 shares of company stock worth $41,680,999. Corporate insiders own 0.11% of the company’s stock.

About American Express

(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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