Asset Dedication LLC Increases Stock Position in American Express (NYSE:AXP)

Asset Dedication LLC raised its holdings in shares of American Express (NYSE:AXPGet Rating) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,056 shares of the payment services company’s stock after purchasing an additional 415 shares during the period. Asset Dedication LLC’s holdings in American Express were worth $5,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBK Financial Inc. purchased a new position in shares of American Express during the fourth quarter valued at about $25,000. Perkins Coie Trust Co bought a new stake in American Express during the 1st quarter valued at approximately $28,000. Tyler Stone Wealth Management purchased a new position in shares of American Express during the 4th quarter worth approximately $25,000. Tilia Fiduciary Partners Inc. raised its position in shares of American Express by 151.5% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 166 shares of the payment services company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Finally, Cornerstone Advisory LLC purchased a new position in shares of American Express in the 4th quarter valued at approximately $32,000. 85.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on American Express from $218.00 to $223.00 and gave the stock an “overweight” rating in a report on Monday, March 28th. Edward Jones raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday, June 6th. Royal Bank of Canada boosted their price objective on shares of American Express from $195.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Monday, April 25th. StockNews.com initiated coverage on shares of American Express in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wolfe Research cut American Express from an “outperform” rating to a “peer perform” rating and dropped their price target for the stock from $213.00 to $146.00 in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average target price of $194.17.

Shares of NYSE AXP opened at $140.40 on Friday. The firm’s 50-day moving average price is $158.90 and its 200-day moving average price is $171.81. American Express has a 52-week low of $134.30 and a 52-week high of $199.55. The company has a market cap of $105.73 billion, a PE ratio of 14.07, a PEG ratio of 1.13 and a beta of 1.08. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXPGet Rating) last issued its quarterly earnings data on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.30. American Express had a net margin of 17.49% and a return on equity of 33.35%. The company had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.66 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, equities research analysts anticipate that American Express will post 9.76 EPS for the current fiscal year.

The firm also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, June 30th. American Express’s dividend payout ratio (DPR) is presently 20.84%.

In other American Express news, CEO Stephen J. Squeri sold 48,160 shares of the stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $178.38, for a total transaction of $8,590,780.80. Following the completion of the transaction, the chief executive officer now owns 31,285 shares of the company’s stock, valued at approximately $5,580,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Leonsis sold 4,005 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

American Express Company Profile (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.

Further Reading

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

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