MML Investors Services LLC Decreases Stock Holdings in American Express (NYSE:AXP)

MML Investors Services LLC lessened its stake in American Express (NYSE:AXP - Free Report) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,008 shares of the payment services company's stock after selling 3,335 shares during the quarter. MML Investors Services LLC's holdings in American Express were worth $23,152,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the 4th quarter worth approximately $33,000. Curio Wealth LLC purchased a new position in American Express in the 4th quarter valued at approximately $37,000. Financial Life Planners bought a new stake in American Express during the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express during the fourth quarter worth $40,000. 84.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXP has been the topic of a number of recent research reports. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. Compass Point cut their price objective on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Citigroup decreased their target price on shares of American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Finally, Morgan Stanley upped their price target on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $295.05.

Insider Transactions at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated 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 of the company's stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

American Express Stock Down 0.9 %

Shares of AXP stock traded down $2.53 during mid-day trading on Friday, reaching $264.79. 1,939,224 shares of the company's stock traded hands, compared to its average volume of 2,848,443. 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 company's 50-day moving average price is $268.60 and its 200-day moving average price is $287.14. The company has a market cap of $185.51 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.41 and a beta of 1.16. American Express has a 12 month low of $220.43 and a 12 month high of $326.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the prior year, the company earned $3.33 earnings per share. On average, equities analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.24%. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express's payout ratio is 22.91%.

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.