Eagle Rock Investment Company LLC Purchases 208 Shares of American Express (NYSE:AXP)

Eagle Rock Investment Company LLC raised its position in shares of American Express (NYSE:AXP) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,409 shares of the payment services company’s stock after acquiring an additional 208 shares during the period. American Express makes up approximately 2.1% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 12th largest position. Eagle Rock Investment Company LLC’s holdings in American Express were worth $10,193,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of American Express by 1.7% during the second quarter. State Street Corp now owns 30,320,053 shares of the payment services company’s stock worth $5,281,753,000 after acquiring an additional 507,042 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of American Express by 118,198.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock valued at $2,028,913,000 after buying an additional 13,720,460 shares during the period. Morgan Stanley boosted its stake in shares of American Express by 0.3% in the fourth quarter. Morgan Stanley now owns 12,503,902 shares of the payment services company’s stock valued at $1,847,452,000 after buying an additional 35,760 shares during the period. Geode Capital Management LLC boosted its stake in shares of American Express by 2.0% in the second quarter. Geode Capital Management LLC now owns 10,817,376 shares of the payment services company’s stock valued at $1,878,460,000 after buying an additional 214,837 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of American Express by 0.6% in the third quarter. Northern Trust Corp now owns 6,953,460 shares of the payment services company’s stock valued at $1,037,387,000 after buying an additional 41,443 shares during the period. Institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on American Express in a research note on Wednesday, January 10th. They issued a “buy” rating and a $235.00 price target for the company. Monness Crespi & Hardt began coverage on American Express in a research note on Wednesday, December 20th. They issued a “neutral” rating for the company. BMO Capital Markets boosted their price objective on shares of American Express from $157.00 to $159.00 and gave the company an “underperform” rating in a research report on Monday, January 29th. Barclays boosted their price objective on shares of American Express from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of American Express from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price of $189.00.

Read Our Latest Report on American Express

American Express Trading Up 0.5 %

NYSE AXP traded up $1.21 on Thursday, reaching $229.12. The company had a trading volume of 3,523,585 shares, compared to its average volume of 3,246,275. The firm has a market cap of $165.85 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.24 and a beta of 1.23. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $231.69. The business has a 50 day moving average of $207.41 and a two-hundred day moving average of $178.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings data on Friday, January 26th. The payment services company reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.07 earnings per share. Analysts forecast that American Express will post 12.83 EPS for the current year.

American Express Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s dividend payout ratio (DPR) is currently 21.41%.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Express news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares in the company, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,047 shares of company stock valued at $36,528,388. 0.12% of the stock is currently owned by insiders.

About American Express

(Free Report)

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.

Further Reading

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

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