Kings Point Capital Management cut its holdings in American Express (NYSE:AXP) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,390 shares of the payment services company’s stock after selling 3,335 shares during the period. American Express accounts for 2.0% of Kings Point Capital Management’s holdings, making the stock its 15th biggest holding. Kings Point Capital Management’s holdings in American Express were worth $8,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BOKF NA increased its position in shares of American Express by 2.6% during the 4th quarter. BOKF NA now owns 22,786 shares of the payment services company’s stock valued at $2,172,000 after purchasing an additional 584 shares during the last quarter. RMB Capital Management LLC increased its position in shares of American Express by 103.6% during the 4th quarter. RMB Capital Management LLC now owns 8,048 shares of the payment services company’s stock valued at $767,000 after purchasing an additional 231,600 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of American Express during the 4th quarter valued at approximately $301,000. Geode Capital Management LLC increased its position in shares of American Express by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock valued at $807,358,000 after purchasing an additional 459,983 shares during the last quarter. Finally, Kinneret Advisory LLC bought a new position in shares of American Express during the 4th quarter valued at approximately $3,735,000. 84.07% of the stock is currently owned by institutional investors.

In other American Express 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Petrino sold 2,444 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was 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 $813,072.01. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Several equities analysts have recently weighed in on AXP shares. Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $115.00 in a research report on Wednesday, December 19th. Morgan Stanley cut their target price on American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. Wells Fargo & Co cut their target price on American Express from $122.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Credit Suisse Group reissued a “hold” rating and set a $93.00 target price on shares of American Express in a research report on Friday, January 18th. Finally, Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 target price on the stock in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $111.52.

Shares of American Express stock opened at $112.35 on Friday. The firm has a market capitalization 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 has a debt-to-equity ratio of 2.62, a quick ratio of 1.93 and a current ratio of 1.93. American Express has a 52 week low of $89.05 and a 52 week high of $114.55.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). The business had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.54 billion. American Express had a net margin of 17.08% and a return on equity of 30.35%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. On average, equities analysts expect that American Express will post 8.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio is 21.28%.

WARNING: “American Express (AXP) Shares Sold by Kings Point Capital Management” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2019/03/15/american-express-axp-shares-sold-by-kings-point-capital-management.html.

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.

Featured Story: Understanding the different types of bonds

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.