Sei Investments Co. Reduces Holdings in American Express (NYSE:AXP)

Sei Investments Co. lowered its position in American Express (NYSE:AXP - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,265 shares of the payment services company's stock after selling 63,543 shares during the period. Sei Investments Co.'s holdings in American Express were worth $97,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Prospera Private Wealth LLC acquired a new position in shares of American Express in the third quarter worth about $27,000. True Wealth Design LLC raised its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after purchasing an additional 83 shares during the period. Curio Wealth LLC purchased a new position in American Express during the fourth quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new stake in American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners acquired a new stake in American Express in the fourth quarter valued at approximately $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction 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 transaction, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $4,308,795. This represents 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 insiders.

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American Express Stock Performance

NYSE AXP traded down $3.85 on Thursday, reaching $272.15. The stock had a trading volume of 2,312,005 shares, compared to its average volume of 2,628,265. The business's 50-day moving average price is $296.76 and its 200 day moving average price is $289.15. The stock has a market cap of $191.19 billion, a P/E ratio of 19.43, 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 debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express's payout ratio is 23.41%.

Analysts Set New Price Targets

Several research firms recently weighed in on AXP. Wells Fargo & Company upped their price target on shares of American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup cut their target price on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday. Monness Crespi & Hardt boosted their target price on shares of American Express from $330.00 to $355.00 and gave the company a "buy" rating in a report on Monday, January 27th. StockNews.com downgraded American Express from a "buy" rating to a "hold" rating in a research report on Monday, January 27th. Finally, Bank of America dropped their target price on shares of American Express from $326.00 to $325.00 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.