Strategic Financial Concepts LLC Acquires New Stake in American Express (NYSE:AXP)

Strategic Financial Concepts LLC acquired a new position in American Express (NYSE:AXP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 137,876 shares of the payment services company's stock, valued at approximately $40,920,000. American Express comprises about 1.3% of Strategic Financial Concepts LLC's investment portfolio, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Newbridge Financial Services Group Inc. purchased a new position in American Express during the fourth quarter valued at approximately $832,000. World Investment Advisors LLC raised its position in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock worth $1,292,000 after buying an additional 3,867 shares during the last quarter. XML Financial LLC grew its position in American Express by 9.8% during the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company's stock worth $306,000 after purchasing an additional 101 shares during the period. LVM Capital Management Ltd. MI increased its holdings 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 valued at $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in American Express in the fourth quarter valued at $832,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Down 0.9 %

Shares of NYSE AXP traded down $2.95 during midday trading on Wednesday, hitting $309.90. 2,147,517 shares of the company's stock were exchanged, compared to its average volume of 2,445,843. The firm's fifty day simple moving average is $307.46 and its 200-day simple moving average is $283.46. The company has a market cap of $217.71 billion, a PE ratio of 22.12, a P/E/G ratio of 1.48 and a beta of 1.24. American Express has a twelve month low of $209.10 and a twelve month high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were paid a $0.70 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express's dividend payout ratio is presently 19.99%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXP. Morgan Stanley increased their target price on American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Royal Bank of Canada raised their target price on shares of American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Monness Crespi & Hardt lifted their price target on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Monday, January 27th. StockNews.com cut American Express from a "buy" rating to a "hold" rating in a report on Monday, January 27th. Finally, UBS Group boosted their price objective on shares of American Express from $283.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average target price of $296.38.

Insiders Place Their Bets

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company's stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,664 shares of company stock valued at $9,613,503. 0.11% of the stock is currently owned by insiders.

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.