Excalibur Management Corp decreased its holdings in shares of American Express (NYSE:AXP) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,011 shares of the payment services company’s stock after selling 133 shares during the period. Excalibur Management Corp’s holdings in American Express were worth $657,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Pearl River Capital LLC bought a new position in American Express during the fourth quarter worth about $25,000. JNBA Financial Advisors bought a new position in American Express during the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV bought a new position in American Express during the first quarter worth about $28,000. Clarfeld Financial Advisors LLC bought a new position in American Express during the fourth quarter worth about $31,000. Finally, Capital Investment Advisory Services LLC bought a new position in American Express during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 84.90% of the company’s stock.
Shares of American Express stock opened at $117.60 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.24 and a quick ratio of 1.93. The company has a market capitalization of $98.21 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.32 and a beta of 1.11. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $117.73.
The business also recently declared 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 1.33%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio is currently 21.28%.
In related news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael John O’neill sold 15,749 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the sale, the insider now directly owns 69,941 shares of the company’s stock, valued at approximately $7,969,077.54. The disclosure for this sale can be found here. In the last three months, insiders sold 30,693 shares of company stock valued at $3,343,968. 0.21% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on AXP shares. Morgan Stanley dropped their price objective on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. Wells Fargo & Co dropped their price objective on shares of American Express from $122.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, January 3rd. Credit Suisse Group reaffirmed a “hold” rating and set a $93.00 price objective on shares of American Express in a report on Friday, January 18th. Atlantic Securities raised shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective for the company in a report on Tuesday, January 29th. Finally, Bank of America set a $108.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average price target of $114.20.
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American Express Profile
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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