Artisan Partners Limited Partnership Cuts Stock Holdings in American Express (NYSE:AXP)

Artisan Partners Limited Partnership cut its position in shares of American Express (NYSE:AXP - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,437,167 shares of the payment services company's stock after selling 426,534 shares during the period. American Express accounts for 2.0% of Artisan Partners Limited Partnership's portfolio, making the stock its 6th largest holding. Artisan Partners Limited Partnership owned 0.63% of American Express worth $1,316,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in American Express by 332.0% during the 3rd 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. Sellwood Investment Partners LLC acquired a new stake in shares of American Express during the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the 4th quarter worth about $33,000. Curio Wealth LLC acquired a new position in American Express in the 4th quarter valued at about $37,000. Finally, Financial Life Planners bought a new position in American Express in the 4th quarter valued at about $38,000. 84.33% of the stock is owned by institutional investors.

American Express Trading Down 2.5 %

Shares of NYSE:AXP traded down $6.86 during midday trading on Friday, hitting $265.16. 3,260,837 shares of the stock were exchanged, compared to its average volume of 2,759,231. The business's 50-day moving average price is $295.02 and its 200 day moving average price is $289.43. 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. The stock has a market capitalization of $186.28 billion, a price-to-earnings ratio of 18.93, 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 posted its earnings results 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%. Analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. 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 annualized dividend and a yield of 1.24%. American Express's payout ratio is presently 23.41%.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the firm'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 transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company's stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares of the company's stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. Argus cut American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. The Goldman Sachs Group decreased their price objective on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. increased their price objective on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $302.57.

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.