American Express (NYSE:AXP) Stock Position Cut by Baxter Bros Inc.

Baxter Bros Inc. decreased its holdings in American Express (NYSE:AXP) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,646 shares of the payment services company’s stock after selling 181 shares during the quarter. American Express accounts for about 3.1% of Baxter Bros Inc.’s holdings, making the stock its 9th biggest holding. Baxter Bros Inc.’s holdings in American Express were worth $23,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Eagle Asset Management Inc. raised its holdings in American Express by 30.6% in the third quarter. Eagle Asset Management Inc. now owns 7,049 shares of the payment services company’s stock valued at $2,027,000 after acquiring an additional 1,651 shares in the last quarter. Nwam LLC purchased a new position in American Express in the third quarter valued at $352,000. Great Valley Advisor Group Inc. raised its stake in American Express by 6.9% in the third quarter. Great Valley Advisor Group Inc. now owns 3,003 shares of the payment services company’s stock valued at $815,000 after buying an additional 194 shares in the last quarter. Swedbank AB raised its stake in American Express by 1.4% in the third quarter. Swedbank AB now owns 408,679 shares of the payment services company’s stock valued at $110,834,000 after buying an additional 5,827 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in American Express by 32.6% during the 3rd quarter. Larson Financial Group LLC now owns 3,620 shares of the payment services company’s stock worth $982,000 after buying an additional 890 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

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

American Express Price Performance

Shares of NYSE:AXP opened at $277.98 on Tuesday. The company’s fifty day moving average is $297.92 and its two-hundred day moving average is $288.99. The company has a market cap of $195.29 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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

American Express Increases Dividend

The company also recently disclosed 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. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is currently 23.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. BTIG Research lifted their price target on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. HSBC lifted their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $302.57.

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.