Allen Investment Management LLC Decreases Stake in American Express (NYSE:AXP)

Allen Investment Management LLC reduced its position in American Express (NYSE:AXP) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,941 shares of the payment services company’s stock after selling 132 shares during the period. Allen Investment Management LLC’s holdings in American Express were worth $318,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Bell Investment Advisors Inc acquired a new stake in shares of American Express in the 3rd quarter valued at about $34,000. Consolidated Planning Corp acquired a new stake in shares of American Express in the 3rd quarter valued at about $34,000. FSB Premier Wealth Management Inc. acquired a new stake in shares of American Express in the 4th quarter valued at about $38,000. D Orazio & Associates Inc. acquired a new stake in shares of American Express in the 3rd quarter valued at about $43,000. Finally, Hoese & Co LLP raised its stake in shares of American Express by 40.0% in the 4th quarter. Hoese & Co LLP now owns 280 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 80 shares in the last quarter. 85.49% of the stock is owned by institutional investors.

NYSE:AXP traded down $1.33 during trading hours on Tuesday, reaching $159.69. 80,261 shares of the company’s stock were exchanged, compared to its average volume of 4,132,808. The company has a market capitalization of $120.26 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08. American Express has a 12 month low of $149.89 and a 12 month high of $199.55. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71. The business’s 50-day simple moving average is $180.17 and its two-hundred day simple moving average is $176.36.

American Express (NYSE:AXPGet Rating) last issued its earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.32. The firm had revenue of $11.74 billion during the quarter, compared to analysts’ expectations of $11.66 billion. American Express had a net margin of 17.49% and a return on equity of 33.35%. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. As a group, sell-side analysts anticipate that American Express will post 9.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Friday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, June 30th. American Express’s payout ratio is 20.84%.

In other American Express news, insider Anre D. Williams sold 139,909 shares of the stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $196.82, for a total value of $27,536,889.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Quinn Jessica Lieberman sold 1,804 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $191.42, for a total transaction of $345,321.68. The disclosure for this sale can be found here. Insiders have sold 189,873 shares of company stock valued at $36,472,992 over the last 90 days. 0.11% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on the stock. Wolfe Research cut their target price on shares of American Express from $240.00 to $226.00 in a research note on Thursday, March 17th. Bank of America increased their price objective on shares of American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. BMO Capital Markets increased their price objective on shares of American Express from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 26th. Barclays increased their price objective on shares of American Express from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 26th. Finally, Stephens increased their price objective on shares of American Express from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.47.

About American Express (Get Rating)

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.

See Also

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

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