Morningstar Investment Services LLC Purchases 38,729 Shares of American Express (NYSE:AXP)

Morningstar Investment Services LLC increased its holdings in American Express (NYSE:AXP) by 97.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,625 shares of the payment services company’s stock after acquiring an additional 38,729 shares during the period. Morningstar Investment Services LLC’s holdings in American Express were worth $14,766,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AXP. BKM Wealth Management LLC purchased a new position in American Express in the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners bought a new position in shares of American Express during the 4th quarter worth $28,000. Pacifica Partners Inc. bought a new position in shares of American Express during the 4th quarter worth $29,000. Baldwin Brothers LLC MA increased its holdings in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after acquiring an additional 89 shares during the last quarter. Finally, Sachetta LLC bought a new stake in American Express in the 4th quarter valued at about $29,000. 84.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. TD Cowen raised their price target on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Robert W. Baird raised their target price on American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer reiterated an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.50.

Get Our Latest Stock Report on AXP

Insider Transactions at American Express

In related news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the sale, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Anna Marrs sold 3,592 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock valued at $41,680,999 in the last quarter. 0.12% of the stock is owned by insiders.

American Express Stock Down 0.3 %

Shares of American Express stock opened at $232.67 on Friday. American Express has a 1 year low of $140.91 and a 1 year high of $244.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. The company has a 50-day moving average of $232.59 and a 200 day moving average of $209.44. The firm has a market cap of $167.36 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.33 and a beta of 1.22.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the previous year, the firm posted $2.40 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Express will post 13.01 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a dividend yield of 1.20%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

American Express Company Profile

(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.

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

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