Parthenon LLC Reduces Stake in American Express (NYSE:AXP)

Parthenon LLC lowered its stake in American Express (NYSE:AXP) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 69,674 shares of the payment services company’s stock after selling 125 shares during the quarter. American Express accounts for approximately 1.8% of Parthenon LLC’s portfolio, making the stock its 16th largest position. Parthenon LLC’s holdings in American Express were worth $13,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new stake in shares of American Express in the 4th quarter valued at about $28,000. Tennessee Valley Asset Management Partners bought a new stake in American Express during the fourth quarter valued at approximately $28,000. Baldwin Brothers LLC MA grew its stake in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after buying an additional 89 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of American Express in the 4th quarter worth $30,000. Finally, Pacifica Partners Inc. purchased a new stake in shares of American Express during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 2.0 %

NYSE:AXP traded down $4.79 during mid-day trading on Tuesday, hitting $234.13. 3,562,762 shares of the company’s stock were exchanged, compared to its average volume of 3,206,016. The business has a fifty day moving average price of $223.53 and a 200 day moving average price of $193.22. American Express has a one year low of $140.91 and a one year high of $240.55. The company has a market cap of $168.41 billion, a PE ratio of 19.29, a P/E/G ratio of 1.34 and a beta of 1.23. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that American Express will post 12.99 EPS for the current year.

American Express Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXP shares. HSBC increased their price objective on American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Stephens raised shares of American Express from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Barclays reaffirmed an “equal weight” rating and issued a $221.00 price objective (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on American Express from $250.00 to $253.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $209.52.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 84,420 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Monique Herena sold 11,242 shares of American Express stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laureen Seeger sold 84,420 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the completion of the sale, the insider now directly owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,891 shares of company stock worth $44,373,196. 0.11% of the stock is owned by corporate insiders.

About American Express

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.