Martin Investment Management LLC Sells 6,398 Shares of American Express (NYSE:AXP)

Martin Investment Management LLC lessened its stake in American Express (NYSE:AXP - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,702 shares of the payment services company's stock after selling 6,398 shares during the period. American Express comprises about 2.8% of Martin Investment Management LLC's holdings, making the stock its 12th largest holding. Martin Investment Management LLC's holdings in American Express were worth $10,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC lifted its position in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Sellwood Investment Partners LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of American Express during the fourth quarter valued at approximately $33,000. Curio Wealth LLC bought a new position in shares of American Express during the fourth quarter valued at approximately $37,000. Finally, Financial Life Planners purchased a new stake in American Express in the fourth quarter worth $38,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Raymond Joabar sold 15,179 shares of the business'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 completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

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American Express Stock Performance

Shares of AXP traded down $14.32 during trading hours on Friday, hitting $233.50. The stock had a trading volume of 9,096,307 shares, compared to its average volume of 2,817,672. The firm has a market capitalization of $164.04 billion, a PE ratio of 16.67, a PEG ratio of 1.41 and a beta of 1.16. 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 has a 12 month low of $214.51 and a 12 month high of $326.28. The stock has a fifty day moving average price of $288.96 and a 200 day moving average price of $289.28.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS 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%. Analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is currently 23.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXP shares. StockNews.com lowered shares of American Express from a "buy" rating to a "hold" rating in a report on Monday, January 27th. Monness Crespi & Hardt boosted 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. Keefe, Bruyette & Woods lifted their price objective on American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their target price on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Finally, Evercore ISI lifted their price target on American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $302.24.

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.