Advisor Resource Council Invests $721,000 in American Express (NYSE:AXP)

Advisor Resource Council purchased a new position in American Express (NYSE:AXP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,167 shares of the payment services company’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Scarborough Advisors LLC purchased a new stake in American Express in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in American Express in the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express in the fourth quarter valued at approximately $28,000. Pacifica Partners Inc. purchased a new position in shares of American Express during the fourth quarter worth approximately $29,000. Finally, Baldwin Brothers LLC MA raised its stake in shares of American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after acquiring an additional 89 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares in the company, valued at approximately $3,957,361.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,717 shares of company stock worth $41,680,999. Corporate insiders own 0.11% of the company’s stock.

American Express Trading Down 0.1 %

NYSE:AXP traded down $0.26 during trading hours on Thursday, hitting $235.71. The company had a trading volume of 1,365,850 shares, compared to its average volume of 2,733,787. American Express has a 52 week low of $140.91 and a 52 week high of $244.41. The company has a market capitalization of $169.55 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a 50-day moving average price of $234.65 and a 200 day moving average price of $217.18.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the business posted $2.40 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is 23.06%.

Analysts Set New Price Targets

Several research firms have commented on AXP. Robert W. Baird lifted their price target on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. BMO Capital Markets lifted their price target on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research note on Monday, April 22nd. BTIG Research assumed coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Monness Crespi & Hardt raised shares of American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price on the stock in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus price target of $220.30.

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.