Congress Wealth Management LLC DE Has $12.49 Million Stock Position in American Express (NYSE:AXP)

Congress Wealth Management LLC DE lowered its holdings in American Express (NYSE:AXP - Free Report) by 39.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,095 shares of the payment services company's stock after selling 27,462 shares during the period. Congress Wealth Management LLC DE's holdings in American Express were worth $12,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXP. True Wealth Design LLC increased its stake in shares of 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 buying an additional 83 shares during the last quarter. Curio Wealth LLC bought a new position in shares of American Express during the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new stake in American Express during the third quarter valued at $38,000. Financial Life Planners bought a new position in shares of American Express in the 4th quarter worth about $38,000. Finally, Sierra Ocean LLC acquired a new stake in American Express during the fourth quarter worth about $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Down 2.5 %

Shares of AXP stock traded down $6.72 on Friday, hitting $265.30. The company's stock had a trading volume of 459,025 shares, compared to its average volume of 2,772,333. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market capitalization of $186.38 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The firm's fifty day moving average price is $295.97 and its 200-day moving average price is $289.03.

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American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Research analysts anticipate 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. Shareholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is 23.41%.

Analyst Ratings Changes

Several brokerages recently weighed in on AXP. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective on the stock in a research report on Friday, March 14th. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express presently has a consensus rating of "Hold" and an average target price of $302.57.

Insider Activity

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's 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 in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company's stock, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.12% 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.