American Express (NYSE:AXP) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 44.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,367 shares of the payment services company's stock after selling 57,844 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in American Express were worth $21,181,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Unified Investment Management acquired a new position in shares of American Express during the 4th quarter worth approximately $886,000. Bravias Capital Group LLC purchased a new position in American Express during the fourth quarter worth approximately $284,000. Meridian Wealth Management LLC boosted its stake in American Express by 10.9% during the fourth quarter. Meridian Wealth Management LLC now owns 3,899 shares of the payment services company's stock worth $1,157,000 after buying an additional 382 shares during the last quarter. Auxano Advisors LLC grew its holdings in American Express by 2.1% in the 4th quarter. Auxano Advisors LLC now owns 2,484 shares of the payment services company's stock valued at $737,000 after buying an additional 50 shares in the last quarter. Finally, Keystone Wealth Services LLC increased its stake in shares of American Express by 3.2% in the 4th quarter. Keystone Wealth Services LLC now owns 2,477 shares of the payment services company's stock worth $735,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Up 0.6 %

Shares of American Express stock traded up $1.72 on Wednesday, reaching $285.19. 1,506,753 shares of the company were exchanged, compared to its average volume of 2,531,250. The stock's 50 day moving average price is $306.96 and its 200-day moving average price is $287.61. 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 1-year low of $214.51 and a 1-year high of $326.27. The company has a market cap of $200.35 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.36% and a return on equity of 32.65%. As a group, equities analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, April 4th. American Express's dividend payout ratio is currently 19.99%.

Analyst Upgrades and Downgrades

AXP has been the subject of several recent analyst reports. HSBC raised their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Monness Crespi & Hardt raised their target price on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their target price on shares of American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Compass Point dropped their price target 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. Finally, Evercore ISI boosted their price target on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. Three research 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, the stock has an average rating of "Hold" and an average price target of $296.38.

Insider Activity

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express 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 directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

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.