American Express (AXP) Shares Sold by Foresters Investment Management Company Inc.
Foresters Investment Management Company Inc. trimmed its position in American Express (NYSE:AXP) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 459,476 shares of the payment services company’s stock after selling 54,950 shares during the quarter. American Express makes up approximately 0.8% of Foresters Investment Management Company Inc.’s holdings, making the stock its 23rd largest position. Foresters Investment Management Company Inc. owned 0.05% of American Express worth $43,797,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pearl River Capital LLC acquired a new position in American Express during the 4th quarter valued at approximately $25,000. JNBA Financial Advisors acquired a new position in American Express during the 4th quarter valued at approximately $26,000. Capital Investment Advisory Services LLC acquired a new position in American Express during the 4th quarter valued at approximately $37,000. Vigilant Capital Management LLC acquired a new position in American Express during the 4th quarter valued at approximately $38,000. Finally, WESPAC Advisors SoCal LLC boosted its position in American Express by 305.0% during the 4th quarter. WESPAC Advisors SoCal LLC now owns 405 shares of the payment services company’s stock valued at $39,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 84.07% of the company’s stock.
Shares of AXP stock opened at $112.35 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.62. American Express has a 1 year low of $89.05 and a 1 year high of $114.55. The firm has a market cap of $93.13 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.39%. American Express’s dividend payout ratio (DPR) is 21.28%.
A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on American Express from $108.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Co restated a “buy” rating and set a $125.00 price objective (up previously from $115.00) on shares of American Express in a research report on Tuesday. Credit Suisse Group restated a “hold” rating and set a $93.00 price objective on shares of American Express in a research report on Friday, January 18th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Finally, Barclays set a $118.00 price objective on American Express and gave the company a “hold” rating in a research report on Friday, December 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $112.25.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $103.02, for a total value of $1,287,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Petrino sold 2,444 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the sale, the executive vice president now owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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