Meridian Investment Counsel Inc. Invests $268,000 in American Express (NYSE:AXP)

Meridian Investment Counsel Inc. acquired a new stake in American Express (NYSE:AXP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 903 shares of the payment services company’s stock, valued at approximately $268,000.

A number of other institutional investors also recently added to or reduced their stakes in AXP. Geode Capital Management LLC increased its position in shares of American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after purchasing an additional 86,100 shares during the period. Fisher Asset Management LLC increased its position in shares of American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after acquiring an additional 95,927 shares in the last quarter. Norges Bank acquired a new stake in American Express during the 4th quarter valued at $1,785,867,000. Janus Henderson Group PLC lifted its stake in American Express by 0.8% in the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after acquiring an additional 33,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American Express by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,878,434 shares of the payment services company’s stock worth $1,151,080,000 after purchasing an additional 14,282 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

American Express Price Performance

Shares of NYSE:AXP opened at $269.25 on Tuesday. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The stock has a market cap of $189.16 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The stock’s fifty day simple moving average is $294.15 and its two-hundred day simple moving average is $289.78. 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 (NYSE:AXP) last posted its quarterly earnings results 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 net margin of 15.36% and a return on equity of 32.65%. As a group, 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 given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.22%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

Analyst Upgrades and Downgrades

AXP has been the subject of several recent research reports. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Monness Crespi & Hardt raised their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Compass Point dropped their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Royal Bank of Canada increased their price target 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. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $302.57.

American Express 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.