Comerica Bank decreased its holdings in shares of American Express (NYSE:AXP) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 130,274 shares of the payment services company’s stock after selling 4,576 shares during the period. Comerica Bank’s holdings in American Express were worth $18,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clearview Wealth Advisors LLC bought a new stake in shares of American Express in the 4th quarter valued at about $27,000. GPS Wealth Strategies Group LLC bought a new stake in American Express during the first quarter valued at about $27,000. Hexavest Inc. purchased a new position in shares of American Express during the fourth quarter valued at about $29,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of American Express during the fourth quarter valued at about $29,000. Finally, Accel Wealth Management purchased a new position in shares of American Express during the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

In other American Express news, insider Douglas E. Buckminster sold 32,833 shares of the firm’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total transaction of $4,796,244.64. Following the transaction, the insider now directly owns 111,247 shares of the company’s stock, valued at approximately $16,250,961.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 59,352 shares of the firm’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the transaction, the insider now directly owns 85,522 shares in the company, valued at $12,475,949.36. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Shares of AXP opened at $154.80 on Tuesday. American Express has a twelve month low of $76.00 and a twelve month high of $156.05. The firm’s fifty day simple moving average is $146.00 and its 200-day simple moving average is $126.68. The firm has a market capitalization of $124.35 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 3.27 and a beta of 1.36. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.05.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $1.13. American Express had a net margin of 8.84% and a return on equity of 21.31%. The firm had revenue of $9.06 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $0.41 EPS. American Express’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, analysts predict that American Express will post 4.85 earnings per share for the current fiscal year.

The business also recently declared a special dividend, which will be paid on Monday, May 10th. Investors of record on Friday, April 2nd will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, March 31st. This represents a yield of 1.2%. American Express’s dividend payout ratio is currently 20.98%.

AXP has been the subject of several recent research reports. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $131.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Credit Suisse Group dropped their target price on American Express from $120.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, January 27th. Wells Fargo & Company lifted their price target on shares of American Express from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Finally, Oppenheimer upped their price target on shares of American Express from $128.00 to $165.00 and gave the company an “outperform” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $126.33.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Read More: What is the LIBOR?

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.