Gabelli Funds LLC Has $174.40 Million Stock Position in American Express (NYSE:AXP)

Gabelli Funds LLC cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,627 shares of the payment services company's stock after selling 64,744 shares during the period. American Express makes up about 1.3% of Gabelli Funds LLC's investment portfolio, making the stock its 5th largest holding. Gabelli Funds LLC owned about 0.08% of American Express worth $174,402,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock worth $3,484,312,000 after buying an additional 268,572 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of American Express by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock worth $2,600,277,000 after purchasing an additional 95,927 shares during the last quarter. Norges Bank acquired a new stake in American Express during the fourth quarter valued at approximately $1,785,867,000. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $1,151,080,000 after buying an additional 14,282 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of American Express by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company's stock worth $655,137,000 after acquiring an additional 247,864 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business's stock in a transaction dated 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 $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Stock Performance

AXP traded down $1.44 during trading on Friday, hitting $251.48. The stock had a trading volume of 3,906,748 shares, compared to its average volume of 2,867,825. The firm has a market cap of $176.67 billion, a PE ratio of 17.95, a P/E/G ratio of 1.41 and a beta of 1.16. 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 $220.43 and a 12 month high of $326.28. The company has a 50 day simple moving average of $272.87 and a 200-day simple moving average of $287.71.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period in the previous year, the company posted $3.33 earnings per share. Analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.30%. American Express's dividend payout ratio is 22.91%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. The Goldman Sachs Group lowered their target price on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Citigroup dropped their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, UBS Group upped their target price on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $294.90.

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.