Envestnet Asset Management Inc. Cuts Stock Position in American Express (NYSE:AXP)

Envestnet Asset Management Inc. cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 681,435 shares of the payment services company's stock after selling 40,244 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of American Express worth $202,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sellwood Investment Partners LLC acquired a new position in shares of American Express in the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new position in American Express in the fourth quarter valued at $33,000. Curio Wealth LLC acquired a new position in shares of American Express in the fourth quarter worth about $37,000. Financial Life Planners purchased a new stake in shares of American Express during the 4th quarter worth about $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express during the 4th quarter worth about $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 1.9 %

Shares of AXP stock traded up $4.57 on Friday, hitting $251.46. 4,412,201 shares of the stock traded hands, compared to its average volume of 2,881,151. American Express has a twelve month low of $216.12 and a twelve month high of $326.28. The stock has a market capitalization of $176.66 billion, a PE ratio of 17.95, a PEG ratio of 1.41 and a beta of 1.16. The firm's 50-day moving average price is $279.02 and its two-hundred day moving average price is $288.26. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on AXP shares. Keefe, Bruyette & Woods upped 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. William Blair restated an "outperform" rating on shares of American Express in a research report on Monday, January 27th. Morgan Stanley increased their target price on American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Citigroup cut their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of American Express from $325.00 to $244.00 and set a "neutral" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, American Express has a consensus rating of "Hold" and an average price target of $296.81.

Insiders Place Their Bets

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.