American Express (AXP) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its position in shares of American Express (NYSE:AXP) by 149.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the payment services company’s stock after purchasing an additional 460 shares during the quarter. 1832 Asset Management L.P.’s holdings in American Express were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AXP. Wesbanco Bank Inc. lifted its stake in American Express by 2.3% in the fourth quarter. Wesbanco Bank Inc. now owns 4,458 shares of the payment services company’s stock valued at $425,000 after buying an additional 100 shares in the last quarter. Bremer Trust National Association raised its holdings in shares of American Express by 2.6% in the fourth quarter. Bremer Trust National Association now owns 3,991 shares of the payment services company’s stock valued at $380,000 after purchasing an additional 100 shares during the last quarter. Private Ocean LLC raised its holdings in shares of American Express by 7.3% in the fourth quarter. Private Ocean LLC now owns 1,521 shares of the payment services company’s stock valued at $145,000 after purchasing an additional 104 shares during the last quarter. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of American Express by 4.5% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 2,434 shares of the payment services company’s stock valued at $232,000 after purchasing an additional 105 shares during the last quarter. Finally, IFG Advisory LLC raised its holdings in shares of American Express by 0.8% in the fourth quarter. IFG Advisory LLC now owns 14,199 shares of the payment services company’s stock valued at $1,353,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

In related news, EVP Richard Petrino sold 2,444 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the sale, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $103.02, for a total value of $1,287,750.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on AXP shares. Bank of America set a $108.00 target price on shares of American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Credit Suisse Group reaffirmed a “hold” rating and set a $93.00 price objective on shares of American Express in a research report on Friday, January 18th. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Morgan Stanley reduced their target price on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. Finally, DZ Bank cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $111.80.

Shares of American Express stock traded down $0.38 on Monday, reaching $110.53. 2,284,973 shares of the company’s stock were exchanged, compared to its average volume of 3,554,025. The stock has a market capitalization of $92.64 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.26 and a beta of 1.11. American Express has a 52 week low of $89.05 and a 52 week high of $114.55. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.93 and a current ratio of 1.93.

American Express (NYSE:AXP) last issued its earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.54 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. American Express’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that American Express will post 8.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio is currently 21.28%.

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About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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