Buckingham Capital Management Inc. Cuts Stock Position in American Express (NYSE:AXP)

Buckingham Capital Management Inc. decreased its holdings in shares of American Express (NYSE:AXP - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,425 shares of the payment services company's stock after selling 1,687 shares during the period. American Express accounts for about 1.4% of Buckingham Capital Management Inc.'s portfolio, making the stock its 23rd biggest position. Buckingham Capital Management Inc.'s holdings in American Express were worth $11,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of American Express during the 3rd quarter valued at about $27,000. Kennebec Savings Bank bought a new position in American Express in the third quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after acquiring an additional 83 shares in the last quarter. Financial Life Planners bought a new position in American Express in the fourth quarter worth approximately $38,000. Finally, Sierra Ocean LLC bought a new position in American Express in the fourth quarter worth approximately $40,000. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In other news, CFO Caillec Christophe Le sold 6,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 13,500 shares of the company's stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,664 shares of company stock worth $9,613,503 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

American Express Stock Performance

Shares of AXP traded down $8.63 during mid-day trading on Friday, hitting $295.23. The stock had a trading volume of 3,277,941 shares, compared to its average volume of 2,481,628. The firm has a market cap of $207.41 billion, a P/E ratio of 21.07, a PEG ratio of 1.48 and a beta of 1.24. The business has a fifty day moving average price of $307.54 and a 200-day moving average price of $284.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 52 week low of $212.48 and a 52 week high of $326.27.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) 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%. On average, equities research analysts expect that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, January 3rd. American Express's payout ratio is 19.99%.

Analyst Ratings Changes

Several research analysts have issued reports on AXP shares. 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. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, January 27th. Morgan Stanley increased their price target on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. Royal Bank of Canada increased their price target on American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, HSBC increased their price objective on American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $296.38.

American Express Company 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.