Checchi Capital Advisers LLC Trims Stock Position in American Express (NYSE:AXP)

Checchi Capital Advisers LLC cut its stake in shares of American Express (NYSE:AXP) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,481 shares of the payment services company’s stock after selling 429 shares during the period. Checchi Capital Advisers LLC’s holdings in American Express were worth $958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Macroview Investment Management LLC purchased a new stake in American Express during the 4th quarter valued at approximately $25,000. Elequin Securities LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $25,000. My Personal CFO LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $30,000. PFG Private Wealth Management LLC raised its stake in shares of American Express by 288.9% during the 4th quarter. PFG Private Wealth Management LLC now owns 210 shares of the payment services company’s stock worth $31,000 after buying an additional 156 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $38,000. 83.30% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

AXP stock traded up $5.21 during trading hours on Friday, hitting $156.29. 1,082,554 shares of the stock traded hands, compared to its average volume of 3,393,573. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.58. The stock has a 50-day simple moving average of $157.75 and a 200 day simple moving average of $159.30. American Express has a one year low of $130.65 and a one year high of $182.15. The company has a market cap of $116.17 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.94 and a beta of 1.18.

American Express (NYSE:AXP – Get Rating) last announced its earnings results on Thursday, April 20th. The payment services company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.26). American Express had a return on equity of 29.44% and a net margin of 13.00%. The company had revenue of $14.28 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the firm earned $2.73 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities analysts forecast that American Express will post 11.15 earnings per share for the current year.

American Express announced that its Board of Directors has approved a share buyback program on Wednesday, March 8th that permits the company to repurchase 120,000,000 shares. This repurchase authorization permits the payment services company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, July 6th. American Express’s dividend payout ratio is currently 25.24%.

Insider Buying and Selling

In other news, insider Howard Grosfield sold 5,456 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total transaction of $952,181.12. Following the completion of the sale, the insider now directly owns 7,045 shares of the company’s stock, valued at approximately $1,229,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Monique Herena sold 15,217 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $173.18, for a total transaction of $2,635,280.06. Following the transaction, the insider now owns 13,712 shares of the company’s stock, valued at approximately $2,374,644.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 5,456 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $174.52, for a total value of $952,181.12. Following the completion of the sale, the insider now directly owns 7,045 shares in the company, valued at approximately $1,229,493.40. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. Bank of America raised their price objective on American Express from $172.00 to $205.00 in a research note on Sunday, January 29th. Barclays raised their price objective on American Express from $158.00 to $178.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Citigroup dropped their price target on American Express from $152.00 to $150.00 and set a “sell” rating for the company in a research report on Friday, April 21st. Oppenheimer dropped their price target on American Express from $182.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, April 4th. Finally, Royal Bank of Canada dropped their price target on American Express from $186.00 to $181.00 and set a “sector perform” rating for the company in a research report on Friday, April 21st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.50.

American Express Company Profile

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American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.