American Express (NYSE:AXP) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC trimmed its position in shares of American Express (NYSE:AXP) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,753 shares of the payment services company’s stock after selling 2,697 shares during the period. American Express accounts for approximately 1.0% of GM Advisory Group LLC’s holdings, making the stock its 25th biggest position. GM Advisory Group LLC’s holdings in American Express were worth $18,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC raised its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares in the last quarter. Catalina Capital Group LLC raised its holdings in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC raised its holdings in shares of American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after purchasing an additional 34 shares in the last quarter. Auxier Asset Management raised its holdings in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after purchasing an additional 35 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

AXP stock opened at $262.71 on Wednesday. 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 company has a market capitalization of $184.56 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The firm has a 50 day moving average of $300.06 and a two-hundred day moving average of $288.47.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 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%. As a group, equities analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.25%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is currently 23.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AXP shares. Royal Bank of Canada boosted their target price on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. UBS Group boosted their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. HSBC boosted their price target on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Bank of America cut their price target on shares of American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $303.52.

Insider Buying and Selling

In other news, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.