Ceeto Capital Group LLC Sells 2,285 Shares of American Express (NYSE:AXP)

Ceeto Capital Group LLC lowered its stake in shares of American Express (NYSE:AXP - Free Report) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,440 shares of the payment services company's stock after selling 2,285 shares during the quarter. American Express comprises approximately 1.1% of Ceeto Capital Group LLC's investment portfolio, making the stock its 14th biggest position. Ceeto Capital Group LLC's holdings in American Express were worth $3,098,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXP. Sellwood Investment Partners LLC acquired a new stake in American Express in the fourth quarter valued at about $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the 4th quarter valued at approximately $33,000. Curio Wealth LLC bought a new stake in shares of American Express during the fourth quarter worth $37,000. Financial Life Planners acquired a new stake in shares of American Express during the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC bought a new position in American Express in the fourth quarter valued at about $40,000. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares of the company's stock, valued at approximately $998,593. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction dated 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 owns 23,866 shares of the company's stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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Wall Street Analyst Weigh In

AXP has been the topic of several recent research reports. Monness Crespi & Hardt lifted their target price on shares of American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Citigroup dropped their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. William Blair reiterated an "outperform" rating on shares of American Express 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 reduced their price target on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $296.81.

American Express Stock Performance

AXP traded up $2.49 on Tuesday, hitting $257.87. The company's stock had a trading volume of 3,507,721 shares, compared to its average volume of 2,883,837. The company's 50 day simple moving average is $277.72 and its 200-day simple moving average is $288.30. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $216.51 and a 12 month high of $326.28. The firm has a market cap of $181.16 billion, a P/E ratio of 18.41, a price-to-earnings-growth 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 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business 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. The ex-dividend date is Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.27%. American Express's dividend payout ratio is currently 23.41%.

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.