Ironwood Investment Counsel LLC Has $11.58 Million Stock Position in American Express (NYSE:AXP)

Ironwood Investment Counsel LLC decreased its holdings in American Express (NYSE:AXP) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,002 shares of the payment services company’s stock after selling 774 shares during the quarter. American Express accounts for approximately 2.0% of Ironwood Investment Counsel LLC’s holdings, making the stock its 6th largest position. Ironwood Investment Counsel LLC’s holdings in American Express were worth $11,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in American Express during the third quarter valued at about $27,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Financial Life Planners purchased a new stake in shares of American Express during the fourth quarter valued at $38,000. Sierra Ocean LLC purchased a new stake in shares of American Express during the fourth quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the third quarter valued at $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $256.31 on Friday. The firm has a market capitalization of $180.07 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The stock’s 50 day moving average price is $302.33 and its two-hundred day moving average price is $287.88. 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 has a 12-month low of $214.51 and a 12-month high of $326.27.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) 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%. On average, equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. HSBC upped their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Compass Point reduced their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.38.

Insiders Place Their Bets

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 completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at $998,593. This trade represents 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.

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.