Van ECK Associates Corp Reduces Holdings in American Express (NYSE:AXP)

Van ECK Associates Corp cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 68.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,100 shares of the payment services company's stock after selling 32,445 shares during the quarter. Van ECK Associates Corp's holdings in American Express were worth $4,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have 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 American Express during the third quarter worth about $29,000. True Wealth Design LLC boosted its position in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in American Express during the third quarter worth about $38,000. Finally, Financial Life Planners acquired a new position in American Express during the fourth quarter worth about $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 2.8 %

American Express stock traded down $8.63 during mid-day trading on Friday, reaching $295.23. 3,277,222 shares of the company's stock were exchanged, compared to its average volume of 2,481,224. The company has a market cap of $207.41 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.48 and a beta of 1.24. American Express has a twelve month low of $212.48 and a twelve month high of $326.27. 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 has a fifty day moving average of $307.68 and a 200-day moving average of $283.79.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Sell-side analysts expect that American Express will post 15.32 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.70 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.95%. American Express's dividend payout ratio (DPR) is presently 19.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AXP shares. BTIG Research boosted their price target on shares of American Express from $266.00 to $270.00 and gave the stock a "sell" rating in a research report on Friday, January 24th. Morgan Stanley boosted their target price on shares of American Express from $305.00 to $310.00 and gave the company an "equal weight" 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. Royal Bank of Canada boosted their target price on shares of American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Finally, Evercore ISI boosted their target price on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $296.38.

Insider Activity

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the sale, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm'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 sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,664 shares of company stock worth $9,613,503. 0.12% of the stock is currently owned by corporate insiders.

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.