Argentarii LLC Invests $1.40 Million in American Express (NYSE:AXP)

Argentarii LLC purchased a new position in American Express (NYSE:AXP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,702 shares of the payment services company's stock, valued at approximately $1,396,000.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in American Express in the third quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express in the third quarter valued at about $29,000. True Wealth Design LLC lifted its position 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 valued at $29,000 after acquiring an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners bought a new position in American Express in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Performance

American Express stock traded down $5.94 during midday trading on Tuesday, reaching $255.38. The stock had a trading volume of 3,461,071 shares, compared to its average volume of 2,645,474. The firm's 50-day moving average price is $304.72 and its 200 day moving average price is $288.26. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $179.41 billion, a PE ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21.

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American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

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

Insider Activity

In other American Express news, insider Raymond Joabar sold 15,179 shares of American Express 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 transaction, the insider now directly owns 23,866 shares of the company's stock, valued at $7,492,492.04. The trade was a 38.88 % 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, Director Michael J. Angelakis purchased 3,700 shares of the business's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on AXP. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the company a "hold" rating in a report on Friday, January 24th. Citigroup upped their price target on American Express from $305.00 to $320.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Evercore ISI boosted their target price on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a report on Monday, January 27th. Royal Bank of Canada raised their price objective 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. Finally, Compass Point cut their price target on American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $296.38.

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.