LGL Partners LLC Reduces Stock Position in American Express (NYSE:AXP)

LGL Partners LLC cut its stake in American Express (NYSE:AXP) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,344 shares of the payment services company’s stock after selling 44 shares during the quarter. LGL Partners LLC’s holdings in American Express were worth $993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after buying an additional 866,110 shares in the last quarter. World Investment Advisors LLC lifted its holdings in shares of American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. National Bank of Canada FI boosted its position in shares of American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after acquiring an additional 300,138 shares during the period. Nordea Investment Management AB grew its stake in American Express by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock valued at $655,137,000 after acquiring an additional 247,864 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after acquiring an additional 239,173 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 0.8 %

AXP opened at $293.12 on Wednesday. American Express has a 12 month low of $213.25 and a 12 month high of $326.27. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The business’s 50-day moving average price is $307.21 and its 200-day moving average price is $285.86. The company has a market cap of $205.93 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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%. On average, equities analysts expect that American Express will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors 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 0.96%. American Express’s dividend payout ratio is currently 19.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Compass Point reduced their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Evercore ISI raised their target price 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 equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $296.38.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the 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 completion of the sale, the insider now owns 13,500 shares of the company’s stock, 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. 0.11% of the stock is currently owned by corporate insiders.

American Express 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.