Pacer Advisors Inc. Increases Stock Position in American Express (NYSE:AXP)

Pacer Advisors Inc. raised its position in American Express (NYSE:AXP - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,162 shares of the payment services company's stock after buying an additional 2,510 shares during the period. Pacer Advisors Inc.'s holdings in American Express were worth $13,107,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in American Express during the third quarter worth about $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its position in shares of 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the third quarter valued at approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express during the third quarter worth approximately $46,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Down 0.6 %

Shares of American Express stock traded down $1.83 during trading hours on Friday, hitting $317.12. The company had a trading volume of 2,033,296 shares, compared to its average volume of 2,461,818. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.67 and a quick ratio of 1.63. The company's 50-day moving average is $304.98 and its two-hundred day moving average is $277.34. The company has a market cap of $223.40 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. American Express has a twelve month low of $199.88 and a twelve month high of $326.27.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (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 15.3 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express's dividend payout ratio is currently 19.99%.

Insider Activity

In other news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company's stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXP shares. HSBC upped their target price on American Express from $270.00 to $294.00 and gave the company a "hold" rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective 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. Keefe, Bruyette & Woods boosted their target price 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. Compass Point cut their price target on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Royal Bank of Canada lifted their price target on shares of American Express from $330.00 to $350.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of "Hold" and a consensus target price of $296.38.

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.