American Express (AXP) Stake Lessened by Systematic Financial Management LP

Systematic Financial Management LP lowered its position in shares of American Express (NYSE:AXP) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,789 shares of the payment services company’s stock after selling 4,372 shares during the quarter. Systematic Financial Management LP’s holdings in American Express were worth $2,600,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new position in shares of American Express during the 4th quarter worth $25,000. JNBA Financial Advisors acquired a new position in shares of American Express during the 4th quarter worth $26,000. Camarda Financial Advisors LLC acquired a new position in shares of American Express during the 1st quarter worth $26,000. Creative Financial Designs Inc. ADV acquired a new position in shares of American Express during the 1st quarter worth $28,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of American Express during the 4th quarter worth $31,000. Institutional investors and hedge funds own 85.91% of the company’s stock.

In other news, insider Michael John O’neill sold 15,749 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total value of $1,794,441.06. Following the completion of the transaction, the insider now owns 69,941 shares in the company, valued at approximately $7,969,077.54. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Several research analysts have recently commented on AXP shares. Oppenheimer set a $119.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $125.00 price objective (up from $115.00) on shares of American Express in a report on Tuesday, March 12th. Morgan Stanley upped their price objective on shares of American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Bank of America set a $108.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $93.00 price objective on shares of American Express in a report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $116.63.

Shares of AXP stock traded down $0.43 during mid-day trading on Friday, reaching $119.41. The company’s stock had a trading volume of 87,782 shares, compared to its average volume of 3,185,989. American Express has a 1-year low of $89.05 and a 1-year high of $120.35. The stock has a market cap of $98.26 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.36 and a beta of 1.13. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.86%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.46 billion. During the same quarter in the prior year, the company posted $1.86 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 8.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio is 21.28%.

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American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Why Invest in Dividend Achievers?

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

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