Renasant Bank Invests $231,000 in American Express (NYSE:AXP)

Renasant Bank bought a new stake in shares of American Express (NYSE:AXP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 780 shares of the payment services company’s stock, valued at approximately $231,000.

Several other institutional investors have also bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new position in shares of American Express during the 4th quarter worth approximately $832,000. World Investment Advisors LLC grew its stake in American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the period. Keybank National Association OH increased its position in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI raised its stake in shares of American Express by 3.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after purchasing an additional 2,557 shares during the period. Finally, Edge Capital Group LLC boosted its holdings in shares of American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after buying an additional 1,113 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 3.7 %

NYSE AXP opened at $266.04 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock’s 50-day simple moving average is $301.59 and its two-hundred day simple moving average is $287.97. American Express has a twelve month low of $214.51 and a twelve month high of $326.27. The company has a market capitalization of $186.90 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Research analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI lifted their price objective on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Morgan Stanley increased their price objective on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company upped their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $299.24.

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.