Asset Dedication LLC trimmed its position in American Express (NYSE:AXP - Free Report) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,306 shares of the payment services company's stock after selling 5,055 shares during the quarter. American Express accounts for 0.6% of Asset Dedication LLC's portfolio, making the stock its 27th largest position. Asset Dedication LLC's holdings in American Express were worth $7,807,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new stake in shares of American Express in the 3rd quarter worth about $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 grew its stake in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after buying an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express during the third quarter worth approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of American Express in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on AXP. Barclays lifted their price target on American Express from $250.00 to $257.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. William Blair reissued an "outperform" rating on shares of American Express in a report on Monday. Compass Point reduced their price objective on American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a report on Monday. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Finally, TD Cowen upped their price target on American Express from $260.00 to $268.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $291.50.
View Our Latest Analysis on AXP
American Express Stock Down 0.6 %
Shares of AXP stock traded down $1.90 during trading hours on Wednesday, hitting $315.14. 2,151,176 shares of the company were exchanged, compared to its average volume of 2,734,893. American Express has a 52 week low of $199.88 and a 52 week high of $326.27. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average of $303.60 and a two-hundred day moving average of $276.27. The company has a market capitalization of $222.00 billion, a PE ratio of 23.19, a PEG ratio of 1.51 and a beta of 1.23.
American Express (NYSE:AXP - Get Free Report) last released its 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 32.46% and a net margin of 15.32%. Analysts anticipate that American Express will post 13.4 earnings per share for the current fiscal year.
American Express Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, January 3rd. American Express's dividend payout ratio (DPR) is currently 20.60%.
Insiders Place Their Bets
In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.12% of the company's stock.
American Express Profile
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Free Report)
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.
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