American Express (NYSE:AXP) Stock Holdings Lowered by Tower Bridge Advisors

Tower Bridge Advisors trimmed its holdings in shares of American Express (NYSE:AXP) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,452 shares of the payment services company’s stock after selling 1,175 shares during the period. Tower Bridge Advisors’ holdings in American Express were worth $3,696,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new stake in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank purchased a new stake in shares of American Express during the third quarter valued at $29,000. True Wealth Design LLC boosted its position in shares of 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 purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new position in American Express in the 3rd quarter worth about $38,000. Finally, Financial Life Planners acquired a new stake in American Express during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $300.77 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The company’s fifty day moving average is $307.44 and its 200-day moving average is $286.43. The firm has a market cap of $211.30 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP) last posted its 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%. Equities analysts expect that American Express will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.93%. American Express’s dividend payout ratio (DPR) is currently 19.99%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note 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 research note on Monday, January 27th. Citigroup raised their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $296.38.

Insider Buying and Selling

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 value of $3,027,327.45. Following the transaction, the insider now 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 SEC, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.