Marco Investment Management LLC Sells 2,245 Shares of American Express (NYSE:AXP)

Marco Investment Management LLC lessened its holdings in shares of American Express (NYSE:AXP - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,459 shares of the payment services company's stock after selling 2,245 shares during the period. American Express accounts for about 1.8% of Marco Investment Management LLC's investment portfolio, making the stock its 14th biggest holding. Marco Investment Management LLC's holdings in American Express were worth $21,208,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position 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 valued at $300,289,000 after acquiring an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of American Express during the fourth quarter valued at $292,081,000. FMR LLC boosted its position in shares of American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock valued at $2,984,208,000 after purchasing an additional 866,110 shares during the period. World Investment Advisors LLC increased its stake in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company's stock worth $86,002,000 after purchasing an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in American Express by 73.7% during the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company's stock valued at $191,842,000 after buying an additional 300,138 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

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Insider Transactions at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired 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 in the company, valued at approximately $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 Stock Performance

NYSE AXP traded down $5.94 on Tuesday, hitting $255.38. 4,924,551 shares of the stock were exchanged, compared to its average volume of 2,682,411. American Express has a 52 week low of $214.51 and a 52 week high of $326.27. The company has a market capitalization of $179.41 billion, a PE ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21. The business's fifty day moving average is $304.72 and its 200 day moving average is $288.26. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data 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%. Research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BTIG Research lifted their price target on American Express from $266.00 to $270.00 and gave the company a "sell" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price 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. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $296.38.

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.