GM Advisory Group LLC Sells 2,697 Shares of American Express (NYSE:AXP)

GM Advisory Group LLC reduced its holdings in American Express (NYSE:AXP - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,753 shares of the payment services company's stock after selling 2,697 shares during the period. American Express makes up about 1.0% of GM Advisory Group LLC's investment portfolio, making the stock its 25th biggest position. GM Advisory Group LLC's holdings in American Express were worth $18,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its stake in shares of American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock valued at $300,289,000 after purchasing an additional 1,009,042 shares during the period. Raymond James Financial Inc. acquired a new position in American Express in the fourth quarter valued at about $292,081,000. FMR LLC boosted its holdings in American Express by 8.5% during the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock worth $2,984,208,000 after buying an additional 866,110 shares during the last quarter. World Investment Advisors LLC grew its position in shares of American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company's stock worth $86,002,000 after buying an additional 316,219 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company's stock valued at $191,842,000 after acquiring an additional 300,138 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXP. Monness Crespi & Hardt lifted their price objective on shares of American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. William Blair restated an "outperform" rating on shares of American Express in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Evercore ISI increased their price target on American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $303.52.

American Express Stock Down 0.1 %

Shares of NYSE AXP traded down $0.35 during trading hours on Friday, hitting $270.48. The company had a trading volume of 4,225,003 shares, compared to its average volume of 2,626,273. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm's 50 day moving average is $298.30 and its 200-day moving average is $288.55. The stock has a market capitalization of $190.02 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed 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 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. This represents a $3.28 annualized dividend and a yield of 1.21%. American Express's dividend payout ratio is currently 23.41%.

Insider Activity

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company's stock, valued at $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. 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.