ACG Wealth Sells 2,537 Shares of American Express (AXP)

ACG Wealth lessened its stake in American Express (NYSE:AXP) by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,651 shares of the payment services company’s stock after selling 2,537 shares during the period. ACG Wealth’s holdings in American Express were worth $1,356,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. boosted its position in American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after purchasing an additional 8 shares in the last quarter. Dearborn Partners LLC boosted its position in American Express by 0.6% in the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after purchasing an additional 18 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of American Express by 0.4% during the 2nd quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after buying an additional 25 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of American Express by 1.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock worth $241,000 after buying an additional 41 shares during the period. Finally, Whalerock Point Partners LLC raised its stake in shares of American Express by 0.9% during the 2nd quarter. Whalerock Point Partners LLC now owns 4,755 shares of the payment services company’s stock worth $400,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 83.37% of the company’s stock.

American Express (AXP) opened at $96.23 on Thursday. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $82,077.72, a price-to-earnings ratio of 33.18, a P/E/G ratio of 1.29 and a beta of 1.19.

American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. equities analysts predict that American Express will post 7.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, January 4th. American Express’s payout ratio is currently 48.28%.

Several research analysts have recently weighed in on AXP shares. Wells Fargo & Co reaffirmed an “outperform” rating and set a $115.00 target price (up from $105.00) on shares of American Express in a research note on Tuesday, January 9th. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays upped their target price on American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Finally, Morgan Stanley upped their target price on American Express from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $102.68.

In other American Express news, insider Ashwini Gupta sold 57,306 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total value of $5,446,362.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Peter Bush sold 13,548 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $97.60, for a total value of $1,322,284.80. Following the completion of the sale, the insider now owns 90,052 shares of the company’s stock, valued at $8,789,075.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 326,110 shares of company stock valued at $31,858,001. 0.67% of the stock is owned by company insiders.

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American Express Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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