Bigelow Investment Advisors LLC grew its holdings in American Express (NYSE:AXP – Get Rating) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,566 shares of the payment services company’s stock after purchasing an additional 328 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in American Express were worth $1,238,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of American Express by 6.7% in the second quarter. Morgan Stanley now owns 9,916,986 shares of the payment services company’s stock worth $1,638,584,000 after acquiring an additional 622,891 shares in the last quarter. Parsec Financial Management Inc. grew its stake in shares of American Express by 14.7% during the third quarter. Parsec Financial Management Inc. now owns 2,137 shares of the payment services company’s stock worth $384,000 after purchasing an additional 274 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of American Express by 182.4% during the third quarter. Essex Financial Services Inc. now owns 10,062 shares of the payment services company’s stock worth $1,686,000 after purchasing an additional 6,499 shares in the last quarter. Perpetual Investment Management Ltd grew its stake in shares of American Express by 136.9% during the third quarter. Perpetual Investment Management Ltd now owns 4,156 shares of the payment services company’s stock worth $696,000 after purchasing an additional 2,402 shares in the last quarter. Finally, BOKF NA acquired a new position in shares of American Express during the third quarter worth $5,633,000. 85.49% of the stock is currently owned by institutional investors and hedge funds.
American Express stock traded up $4.95 during trading hours on Tuesday, reaching $161.38. 107,659 shares of the company were exchanged, compared to its average volume of 3,440,260. The firm has a market cap of $121.53 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.35 and a beta of 1.08. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. The stock has a 50-day moving average of $178.92 and a 200 day moving average of $175.65. American Express has a 12 month low of $149.88 and a 12 month high of $199.55.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.29%. American Express’s dividend payout ratio (DPR) is presently 20.84%.
In related news, CEO Stephen J. Squeri sold 48,160 shares of the firm’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $178.38, for a total value of $8,590,780.80. Following the transaction, the chief executive officer now owns 31,285 shares in the company, valued at $5,580,618.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.
AXP has been the subject of a number of research reports. Credit Suisse Group upped their target price on shares of American Express from $163.00 to $170.00 and gave the company an “underperform” rating in a report on Wednesday, January 26th. Barclays upped their target price on shares of American Express from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 26th. Royal Bank of Canada increased their price target on shares of American Express from $195.00 to $200.00 and gave the company a “sector perform” rating in a research report on Monday, April 25th. Robert W. Baird reiterated a “neutral” rating and issued a $175.00 price target on shares of American Express in a research report on Tuesday, April 26th. Finally, Wells Fargo & Company boosted their target price on shares of American Express from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, January 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $192.26.
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.
- Get a free copy of the StockNews.com research report on American Express (AXP)
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