Envestnet Portfolio Solutions Inc. Has $2.90 Million Holdings in American Express (NYSE:AXP)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of American Express (NYSE:AXP) by 11.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,489 shares of the payment services company’s stock after acquiring an additional 1,538 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in American Express were worth $2,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in American Express during the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express in the fourth quarter valued at approximately $28,000. Pacifica Partners Inc. acquired a new position in shares of American Express in the fourth quarter valued at approximately $29,000. Baldwin Brothers LLC MA boosted its stake in shares of American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after buying an additional 89 shares during the period. Finally, WFA Asset Management Corp bought a new stake in American Express during the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity

In related news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,717 shares of company stock worth $41,680,999. 0.11% of the stock is currently owned by corporate insiders.

American Express Stock Up 0.1 %

Shares of American Express stock opened at $241.68 on Thursday. The company has a market cap of $173.84 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The company’s 50 day moving average is $227.86 and its 200 day moving average is $199.81. American Express has a twelve month low of $140.91 and a twelve month high of $243.54. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. Research analysts anticipate that American Express will post 12.99 EPS for the current year.

American Express Increases Dividend

The firm 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 $0.70 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.16%. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXP. Evercore ISI upped their price target on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their price target on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. TD Cowen lifted their price objective on shares of American Express from $221.00 to $225.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus price target of $210.71.

American Express Company Profile

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.