American Express (NYSE:AXP) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC reduced its position in American Express (NYSE:AXP - Free Report) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,267 shares of the payment services company's stock after selling 3,593 shares during the quarter. ProVise Management Group LLC's holdings in American Express were worth $3,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of American Express in the third quarter valued at about $27,000. True Wealth Design LLC raised its holdings 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 worth $29,000 after purchasing an additional 83 shares in the last quarter. Curio Wealth LLC bought a new position in American Express in the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new position in American Express in the third quarter worth about $38,000. Finally, Financial Life Planners bought a new position in American Express in the fourth quarter worth about $38,000. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now directly owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. 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 $0.35 during mid-day trading on Friday, hitting $270.48. The company had a trading volume of 4,225,003 shares, compared to its average volume of 2,626,273. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The company's fifty day moving average is $298.30 and its 200-day moving average is $288.55. The company has a market capitalization of $190.02 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently announced 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 1.21%. 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 dividend payout ratio is presently 23.41%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXP. Royal Bank of Canada boosted their target price on shares of American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, January 27th. Citigroup boosted their target price on shares of American Express from $305.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. UBS Group boosted their price target on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Finally, Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.52.

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.