Levin Capital Strategies L.P. Raises Stock Position in American Express (NYSE:AXP)

Levin Capital Strategies L.P. increased its position in American Express (NYSE:AXP) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,258 shares of the payment services company’s stock after purchasing an additional 194 shares during the period. Levin Capital Strategies L.P.’s holdings in American Express were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AXP. BKM Wealth Management LLC purchased a new stake in American Express in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express during the 4th quarter valued at approximately $28,000. BluePath Capital Management LLC purchased a new stake in American Express during the 3rd quarter valued at approximately $29,000. Pacifica Partners Inc. purchased a new stake in American Express during the 4th quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA boosted its position in shares of American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, insider Laureen Seeger sold 84,420 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares in the company, valued at $2,891,480.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 84,420 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total value of $17,979,771.60. Following the transaction, the insider now owns 57,512 shares in the company, valued at $12,248,905.76. The disclosure for this sale can be found here. Insiders sold a total of 203,891 shares of company stock valued at $44,373,196 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

American Express Stock Performance

NYSE:AXP traded up $1.27 during trading hours on Thursday, reaching $232.73. 1,818,413 shares of the stock were exchanged, compared to its average volume of 3,199,760. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm has a 50 day simple moving average of $223.94 and a 200-day simple moving average of $193.49. The stock has a market capitalization of $167.40 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.33 and a beta of 1.20. American Express has a 52 week low of $140.91 and a 52 week high of $240.55.

American Express (NYSE:AXP) last issued its quarterly earnings results 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. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. As a group, sell-side analysts forecast that American Express will post 12.99 earnings per share for the current fiscal year.

American Express Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays reaffirmed an “equal weight” rating and set a $221.00 price objective (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. HSBC upped their price objective on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, April 11th. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $210.71.

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.