Coign Capital Advisors LLC Takes Position in American Express (NYSE:AXP)

Coign Capital Advisors LLC purchased a new position in shares of American Express (NYSE:AXP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,171 shares of the payment services company's stock, valued at approximately $644,000.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in American Express during the 4th quarter worth about $1,785,867,000. Proficio Capital Partners LLC raised its stake in shares of American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock worth $300,289,000 after purchasing an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Express in the 4th quarter valued at approximately $292,081,000. APG Asset Management N.V. grew its stake in shares of American Express by 538.7% in the fourth quarter. APG Asset Management N.V. now owns 355,888 shares of the payment services company's stock valued at $102,003,000 after buying an additional 300,168 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its holdings in American Express by 22.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company's stock worth $450,429,000 after buying an additional 273,813 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of NYSE AXP traded down $5.12 during midday trading on Wednesday, hitting $252.74. 2,015,317 shares of the stock traded hands, compared to its average volume of 2,881,080. The firm has a 50-day moving average of $276.48 and a two-hundred day moving average of $288.09. The firm has a market capitalization of $177.56 billion, a P/E ratio of 18.04, a PEG ratio of 1.41 and a beta of 1.16. American Express has a one year low of $216.51 and a one year 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.

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American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS 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%. On average, equities analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio is presently 23.41%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AXP shares. The Goldman Sachs Group cut their price objective on American Express from $367.00 to $330.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. HSBC boosted their price objective on shares of American Express from $270.00 to $294.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Finally, Citigroup dropped their price target on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $296.81.

Insider Activity

In related news, insider Raymond Joabar sold 15,179 shares of American Express 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 completion of the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares in the company, 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.

American Express 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.