Evoke Wealth LLC Acquires 46 Shares of American Express (NYSE:AXP)

Evoke Wealth LLC raised its stake in American Express (NYSE:AXP) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,619 shares of the payment services company’s stock after buying an additional 46 shares during the quarter. Evoke Wealth LLC’s holdings in American Express were worth $2,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. GSA Capital Partners LLP lifted its holdings in shares of American Express by 4.2% in the third quarter. GSA Capital Partners LLP now owns 2,655 shares of the payment services company’s stock valued at $720,000 after purchasing an additional 108 shares in the last quarter. Empowered Funds LLC lifted its stake in American Express by 2.0% in the 3rd quarter. Empowered Funds LLC now owns 14,291 shares of the payment services company’s stock valued at $3,876,000 after acquiring an additional 281 shares in the last quarter. Claro Advisors LLC boosted its position in American Express by 8.1% during the 3rd quarter. Claro Advisors LLC now owns 2,209 shares of the payment services company’s stock worth $599,000 after acquiring an additional 165 shares during the last quarter. Aljian Capital Management LLC bought a new position in shares of American Express during the 3rd quarter worth approximately $884,000. Finally, Aviso Wealth Management acquired a new stake in shares of American Express in the third quarter valued at approximately $595,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 0.5 %

Shares of AXP opened at $264.36 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The firm’s 50 day moving average is $300.85 and its 200-day moving average is $288.45. The stock has a market capitalization of $185.72 billion, a PE ratio of 18.87, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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%. Equities research analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Activity

In related news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXP. Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Monness Crespi & Hardt upped their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday. Evercore ISI upped their price objective on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $299.24.

About American Express

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.