Legacy Advisors LLC increased its holdings in shares of American Express (NYSE:AXP) by 27.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,596 shares of the payment services company’s stock after acquiring an additional 1,000 shares during the period. Legacy Advisors LLC’s holdings in American Express were worth $650,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Clearview Wealth Advisors LLC purchased a new position in American Express in the fourth quarter worth about $27,000. Hexavest Inc. purchased a new position in American Express in the fourth quarter worth about $29,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in American Express in the fourth quarter worth about $29,000. Accel Wealth Management purchased a new position in American Express in the fourth quarter worth about $31,000. Finally, Annapolis Financial Services LLC purchased a new position in American Express in the fourth quarter worth about $33,000. 83.54% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on AXP shares. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 target price for the company. in a report on Monday, February 22nd. Oppenheimer decreased their price objective on shares of American Express from $136.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, January 27th. DZ Bank raised shares of American Express from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Thursday, January 28th. Robert W. Baird cut shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price objective for the company. in a report on Tuesday, February 16th. Finally, Morgan Stanley boosted their price objective on shares of American Express from $165.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $122.38.
Shares of AXP traded down $0.49 during mid-day trading on Monday, reaching $147.29. The stock had a trading volume of 75,863 shares, compared to its average volume of 3,679,346. The firm has a market cap of $118.34 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 3.27 and a beta of 1.36. American Express has a 12 month low of $76.00 and a 12 month high of $151.46. The business has a fifty day moving average of $141.99 and a 200 day moving average of $121.00. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.47 and a current ratio of 1.47.
American Express (NYSE:AXP) last posted its quarterly earnings results on Monday, January 25th. The payment services company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.50. The business had revenue of $9.35 billion during the quarter, compared to analyst estimates of $9.32 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. The company’s revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 earnings per share. On average, research analysts forecast that American Express will post 4.85 EPS for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Monday, May 10th. Investors of record on Friday, April 2nd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a dividend yield of 1.2%. American Express’s dividend payout ratio is 20.98%.
In related news, insider Douglas E. Buckminster sold 32,833 shares of the company’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total transaction of $4,796,244.64. Following the completion of the transaction, the insider now owns 111,247 shares in the company, valued at $16,250,961.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 59,352 shares of the company’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the transaction, the insider now owns 85,522 shares of the company’s stock, valued at approximately $12,475,949.36. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.