GeoWealth Management LLC Boosts Holdings in American Express (NYSE:AXP)

GeoWealth Management LLC raised its stake in American Express (NYSE:AXP) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,449 shares of the payment services company’s stock after acquiring an additional 367 shares during the quarter. GeoWealth Management LLC’s holdings in American Express were worth $2,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AXP. Virtu Financial LLC purchased a new stake in American Express during the third quarter valued at about $1,296,000. SOA Wealth Advisors LLC. raised its position in shares of American Express by 2.7% in the third quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company’s stock valued at $2,178,000 after purchasing an additional 209 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of American Express by 3.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,423 shares of the payment services company’s stock valued at $657,000 after buying an additional 73 shares in the last quarter. World Investment Advisors LLC boosted its holdings in shares of American Express by 430.6% in the third 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 during the period. Finally, Wilmington Savings Fund Society FSB grew its position in shares of American Express by 293.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,428 shares of the payment services company’s stock valued at $8,523,000 after purchasing an additional 23,432 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Compass Point reduced their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. The Goldman Sachs Group reduced their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $294.90.

American Express Stock Down 0.6 %

Shares of NYSE AXP opened at $251.48 on Friday. The company has a market cap of $176.67 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.41 and a beta of 1.16. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm’s fifty day moving average is $272.87 and its 200 day moving average is $287.59. American Express has a 52 week low of $218.84 and a 52 week high of $326.28.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the company posted $3.33 EPS. On average, equities research analysts expect that American Express will post 15.33 earnings per share for the current 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 paid a $0.82 dividend. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio is presently 23.41%.

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.