Everett Harris & Co. CA Lowers Stock Position in American Express (NYSE:AXP)

Everett Harris & Co. CA lowered its position in American Express (NYSE:AXP) by 0.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,093 shares of the payment services company’s stock after selling 45 shares during the period. Everett Harris & Co. CA’s holdings in American Express were worth $2,105,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in American Express during the 3rd quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in American Express during the third quarter valued at $29,000. True Wealth Design LLC increased its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in American Express in the 3rd quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of American Express during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $317.12 on Friday. The firm has a 50 day moving average of $304.66 and a two-hundred day moving average of $276.84. The firm has a market capitalization of $223.40 billion, a PE ratio of 22.64, a P/E/G ratio of 1.48 and a beta of 1.23. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $199.88 and a 12-month high of $326.27.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that American Express will post 15.3 EPS for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.88%. American Express’s payout ratio is 19.99%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AXP. HSBC lifted their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. BTIG Research upped their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Citigroup boosted their price objective on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday. Monness Crespi & Hardt boosted their target price on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Compass Point reduced their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.38.

Insider Buying and Selling

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, 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. 0.12% of the stock is currently owned by insiders.

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.