Connectus Wealth LLC Trims Stock Position in American Express (NYSE:AXP)

Connectus Wealth LLC decreased its position in American Express (NYSE:AXPFree Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,990 shares of the payment services company’s stock after selling 984 shares during the period. Connectus Wealth LLC’s holdings in American Express were worth $3,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in shares of American Express during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express during the fourth quarter worth about $28,000. Pacifica Partners Inc. purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Baldwin Brothers LLC MA increased its stake in shares of American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other American Express news, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the sale, the executive vice president now directly owns 258 shares of the company’s stock, valued at approximately $59,948.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock valued at $41,680,999 in the last ninety days. Company insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $232.67 on Monday. The firm’s 50 day moving average price is $232.59 and its 200-day moving average price is $210.09. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a one year low of $140.91 and a one year high of $244.41. The firm has a market cap of $167.36 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.32 and a beta of 1.22.

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

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $0.70 per share. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio is presently 23.06%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of American Express in a research report on Monday. They set a “neutral” rating and a $250.00 price target on the stock. Morgan Stanley boosted their price target on shares of American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. TD Cowen boosted their price target on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Royal Bank of Canada boosted their price target on shares of American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $220.30.

Check Out Our Latest Analysis on AXP

American Express 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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