Lorne Steinberg Wealth Management Inc. Purchases 230 Shares of American Express (NYSE:AXP)

Lorne Steinberg Wealth Management Inc. boosted its position in American Express (NYSE:AXP) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,469 shares of the payment services company’s stock after acquiring an additional 230 shares during the period. American Express accounts for 2.1% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in American Express were worth $6,270,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXP. Boston Partners bought a new stake in American Express in the 3rd quarter worth $210,540,000. International Assets Investment Management LLC grew its holdings in American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after acquiring an additional 714,370 shares during the last quarter. Canoe Financial LP bought a new stake in American Express in the 3rd quarter worth $73,906,000. Schonfeld Strategic Advisors LLC lifted its position in shares of American Express by 636.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 442,307 shares of the payment services company’s stock worth $65,988,000 after purchasing an additional 382,272 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after purchasing an additional 335,338 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP traded up $0.22 during mid-day trading on Wednesday, reaching $239.18. The stock had a trading volume of 1,565,067 shares, compared to its average volume of 3,159,084. American Express has a 12 month low of $140.91 and a 12 month high of $240.17. The business has a fifty day moving average of $221.05 and a 200 day moving average of $190.19. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.63 and a current ratio of 1.62. The firm has a market cap of $172.04 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.33 and a beta of 1.23.

American Express (NYSE:AXP) last released its earnings results 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 the consensus estimate of $15.79 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that American Express will post 12.96 EPS for the current 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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXP. Stephens raised shares of American Express from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $148.00 to $193.00 in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. raised their target price on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets raised their target price on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research report on Monday. Finally, UBS Group raised their target price on shares of American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.95.

Insider Activity at American Express

In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total value of $17,979,771.60. Following the transaction, the insider now directly owns 57,512 shares in the company, valued at $12,248,905.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the completion of the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock valued at $36,528,388 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

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.