Pinnacle Wealth Planning Services Inc. Sells 1,218 Shares of American Express (NYSE:AXP)

Pinnacle Wealth Planning Services Inc. lessened its stake in shares of American Express (NYSE:AXP - Free Report) by 30.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,812 shares of the payment services company's stock after selling 1,218 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in American Express were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Prospera Private Wealth LLC acquired a new position in American Express during the 3rd quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the third quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Financial Life Planners acquired a new stake in American Express in the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC bought a new stake in American Express during the 4th quarter valued at $40,000. 84.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on 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 transaction, the insider now owns 23,866 shares of the company's stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

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American Express Stock Performance

American Express stock traded down $11.94 during mid-day trading on Monday, reaching $261.27. The company's stock had a trading volume of 4,273,637 shares, compared to its average volume of 2,632,304. The company has a market capitalization of $183.55 billion, a P/E ratio of 18.65, a PEG ratio of 1.41 and a beta of 1.21. The firm's fifty day moving average price is $305.44 and its two-hundred day moving average price is $288.17. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

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 analysts' consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.26%. 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 23.41%.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. BTIG Research lifted their price objective on shares of American Express from $266.00 to $270.00 and gave the company a "sell" rating in a report on Friday, January 24th. Morgan Stanley boosted their price objective on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Monday, January 27th. HSBC upped their price target on American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Finally, Evercore ISI upped their target price on shares of American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of "Hold" and an average price target of $296.38.

About American Express

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.