Wealth Alliance Reduces Position in American Express (NYSE:AXP)

Wealth Alliance lessened its holdings in shares of American Express (NYSE:AXP) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,369 shares of the payment services company’s stock after selling 540 shares during the period. Wealth Alliance’s holdings in American Express were worth $1,006,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. RB Capital Management LLC boosted its position in shares of American Express by 5.3% during the first quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock valued at $707,000 after buying an additional 190 shares during the period. Roundview Capital LLC boosted its holdings in shares of American Express by 0.4% in the first quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock valued at $5,054,000 after purchasing an additional 105 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of American Express by 5.6% in the first quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock valued at $266,000 after purchasing an additional 75 shares during the period. Covestor Ltd boosted its holdings in shares of American Express by 207.1% in the first quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock valued at $177,000 after purchasing an additional 638 shares during the period. Finally, Donaldson Capital Management LLC purchased a new stake in shares of American Express in the first quarter valued at approximately $397,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the sale, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the sale, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Howard Grosfield sold 7,029 shares of the company’s 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 completion of the sale, the insider now owns 12,388 shares in the company, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,047 shares of company stock worth $36,528,388. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Morgan Stanley lowered American Express from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $212.00 to $222.00 in a report on Thursday, February 8th. Oppenheimer reiterated an “outperform” rating on shares of American Express in a report on Friday, April 5th. Monness Crespi & Hardt upgraded American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a report on Friday, April 5th. Finally, Barclays restated an “equal weight” rating and set a $221.00 target price (up previously from $220.00) on shares of American Express in a report on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $201.62.

American Express Stock Performance

AXP opened at $218.40 on Wednesday. American Express has a 52-week low of $140.91 and a 52-week high of $231.69. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71. The company has a market cap of $158.09 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. The firm’s 50-day moving average price is $219.38 and its 200-day moving average price is $187.37.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $16 billion. During the same quarter last year, the company posted $2.07 EPS. American Express’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that American Express will post 12.83 EPS for the current fiscal year.

American Express Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors 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 annualized dividend and a yield of 0.18%. American Express’s dividend payout ratio (DPR) is presently 24.98%.

American Express Company 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.