Aviva PLC Sells 7,131 Shares of American Express (NYSE:AXP)

Aviva PLC cut its holdings in American Express (NYSE:AXP - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,564 shares of the payment services company's stock after selling 7,131 shares during the period. Aviva PLC owned approximately 0.05% of American Express worth $113,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXP. Newbridge Financial Services Group Inc. acquired a new position in American Express in the fourth quarter valued at approximately $832,000. World Investment Advisors LLC lifted its position in shares of American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock valued at $1,292,000 after acquiring an additional 3,867 shares during the period. Keybank National Association OH boosted its stake in American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock worth $103,858,000 after acquiring an additional 12,364 shares in the last quarter. LVM Capital Management Ltd. MI grew its holdings in American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company's stock worth $25,626,000 after purchasing an additional 2,557 shares during the period. Finally, Edge Capital Group LLC increased its stake in American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after purchasing an additional 1,113 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE AXP traded down $16.65 on Thursday, hitting $245.71. 2,327,888 shares of the stock traded hands, compared to its average volume of 2,867,677. 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 business's fifty day moving average is $281.71 and its two-hundred day moving average is $288.51. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The firm has a market capitalization of $172.62 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.41 and a beta of 1.16.

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

American Express Increases Dividend

The firm 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. This is a boost from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.33%. American Express's payout ratio is presently 23.41%.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AXP shares. Monness Crespi & Hardt raised their price objective on American Express from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on shares of American Express from $325.00 to $244.00 and set a "neutral" rating for the company in a research report on Tuesday. Morgan Stanley raised their price objective on shares of American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research report on Friday, March 14th. Finally, Argus cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $299.24.

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.