Concurrent Investment Advisors LLC grew its position in American Express (NYSE:AXP - Free Report) by 83.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,526 shares of the payment services company's stock after acquiring an additional 9,322 shares during the period. Concurrent Investment Advisors LLC's holdings in American Express were worth $6,092,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Meitav Investment House Ltd. grew its holdings in American Express by 70.4% during the 4th quarter. Meitav Investment House Ltd. now owns 27,136 shares of the payment services company's stock worth $8,056,000 after acquiring an additional 11,211 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of American Express by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 222,544 shares of the payment services company's stock valued at $66,049,000 after purchasing an additional 6,241 shares during the last quarter. Sunpointe LLC grew its stake in shares of American Express by 14.1% during the fourth quarter. Sunpointe LLC now owns 977 shares of the payment services company's stock valued at $290,000 after purchasing an additional 121 shares during the last quarter. Parthenon LLC increased its holdings in shares of American Express by 1.2% in the fourth quarter. Parthenon LLC now owns 69,632 shares of the payment services company's stock valued at $20,666,000 after purchasing an additional 792 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its position in shares of American Express by 2,437.9% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 162,251 shares of the payment services company's stock worth $48,154,000 after acquiring an additional 155,858 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Royal Bank of Canada upped their target price on shares of American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. William Blair restated an "outperform" rating on shares of American Express in a report on Monday, January 27th. Finally, StockNews.com cut shares of American Express from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $296.38.
View Our Latest Research Report on AXP
Insider Transactions at American Express
In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock valued at $9,613,503 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.
American Express Stock Down 2.8 %
Shares of NYSE:AXP traded down $8.63 during midday trading on Friday, reaching $295.23. 3,277,941 shares of the company were exchanged, compared to its average volume of 2,481,628. The firm has a market cap of $207.41 billion, a PE ratio of 21.07, a P/E/G ratio of 1.48 and a beta of 1.24. 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 fifty-two week low of $212.48 and a fifty-two week high of $326.27. The stock has a fifty day simple moving average of $307.68 and a two-hundred day simple moving average of $283.79.
American Express (NYSE:AXP - Get Free Report) last released its quarterly 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%. As a group, sell-side analysts forecast that American Express will post 15.32 earnings per share for the current year.
American Express Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, January 3rd. American Express's dividend payout ratio (DPR) is currently 19.99%.
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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