Cullen Capital Management LLC Sells 2,221 Shares of American Express (NYSE:AXP)

Cullen Capital Management LLC cut its holdings in shares of American Express (NYSE:AXP) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,168 shares of the payment services company’s stock after selling 2,221 shares during the period. Cullen Capital Management LLC’s holdings in American Express were worth $5,095,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXP. Resona Asset Management Co. Ltd. bought a new position in American Express during the 4th quarter valued at about $50,679,000. Integrated Quantitative Investments LLC purchased a new position in shares of American Express during the fourth quarter valued at approximately $442,000. Prudential PLC lifted its position in American Express by 17.1% during the fourth quarter. Prudential PLC now owns 85,001 shares of the payment services company’s stock valued at $25,227,000 after purchasing an additional 12,436 shares during the period. Yoffe Investment Management LLC bought a new position in American Express during the fourth quarter valued at approximately $1,143,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in American Express by 22.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 612 shares of the payment services company’s stock worth $182,000 after purchasing an additional 113 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price 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 approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

American Express Trading Down 5.8 %

Shares of AXP stock opened at $233.50 on Friday. The stock’s 50-day moving average price is $288.96 and its 200-day moving average price is $289.28. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The stock has a market capitalization of $164.04 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its quarterly earnings data 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 return on equity of 32.65% and a net margin of 15.36%. Equities research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Morgan Stanley upped their price objective on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. HSBC increased their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target for the company in a research note on Friday, March 14th. Finally, Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $302.24.

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.