American Express (NYSE:AXP) Stock Position Lowered by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. decreased its position in American Express (NYSE:AXP) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 336,384 shares of the payment services company’s stock after selling 3,510 shares during the period. American Express accounts for about 2.7% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 6th biggest position. Bowen Hanes & Co. Inc.’s holdings in American Express were worth $99,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of American Express during the 4th quarter worth $832,000. World Investment Advisors LLC grew its holdings in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after acquiring an additional 3,867 shares in the last quarter. Keybank National Association OH increased its position in American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the period. LVM Capital Management Ltd. MI raised its holdings in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC lifted its position in shares of American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after purchasing an additional 1,113 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AXP shares. HSBC increased their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company increased their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Evercore ISI increased their target price on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.38.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by company insiders.

American Express Stock Up 2.3 %

Shares of NYSE AXP opened at $261.19 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52-week low of $214.51 and a 52-week high of $326.27. The firm has a market cap of $183.49 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s 50-day simple moving average is $303.18 and its 200-day simple moving average is $288.10.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Equities analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

About American Express

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.