Hartford Investment Management Co. lessened its stake in shares of American Express (NYSE:AXP) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,802 shares of the payment services company’s stock after selling 152 shares during the quarter. Hartford Investment Management Co.’s holdings in American Express were worth $10,962,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Camarda Financial Advisors LLC bought a new position in shares of American Express during the 1st quarter worth about $26,000. Creative Financial Designs Inc. ADV bought a new position in shares of American Express during the 1st quarter worth about $28,000. HMS Capital Management LLC bought a new position in shares of American Express during the 2nd quarter worth about $37,000. Edge Wealth Management LLC boosted its position in shares of American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock worth $46,000 after purchasing an additional 216 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its position in shares of American Express by 24.8% during the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.
Shares of NYSE AXP opened at $122.37 on Monday. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34. The company has a market cap of $103.14 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50-day simple moving average of $125.41.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.27%. American Express’s dividend payout ratio (DPR) is 21.28%.
A number of equities analysts have recently issued reports on the stock. Oppenheimer set a $119.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Wells Fargo & Co increased their price objective on shares of American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Bank of America started coverage on shares of American Express in a research report on Wednesday, June 19th. They set a “buy” rating and a $145.00 price objective on the stock. ValuEngine cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets raised their price target on shares of American Express to $119.00 and gave the company a “market perform” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $124.38.
In other American Express news, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $114.69, for a total value of $1,720,350.00. Following the completion of the sale, the chairman now owns 214,815 shares in the company, valued at approximately $24,637,132.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the completion of the sale, the chairman now owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,548 shares of company stock valued at $22,910,322. Company insiders own 0.21% of the company’s stock.
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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