Patten & Patten Inc. TN Has $1.23 Million Stock Holdings in American Express (NYSE:AXP)

Patten & Patten Inc. TN lowered its position in shares of American Express (NYSE:AXP) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,543 shares of the payment services company’s stock after selling 350 shares during the quarter. Patten & Patten Inc. TN’s holdings in American Express were worth $1,226,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Strategic Advisors LLC raised its stake in American Express by 1.1% during the fourth quarter. Strategic Advisors LLC now owns 5,244 shares of the payment services company’s stock valued at $982,000 after buying an additional 58 shares during the last quarter. WASHINGTON TRUST Co grew its position in American Express by 1.3% during the 4th quarter. WASHINGTON TRUST Co now owns 4,894 shares of the payment services company’s stock valued at $917,000 after purchasing an additional 64 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of American Express by 1.2% in the first quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock worth $1,041,000 after buying an additional 65 shares in the last quarter. Strategy Asset Managers LLC grew its holdings in shares of American Express by 3.7% during the second quarter. Strategy Asset Managers LLC now owns 1,818 shares of the payment services company’s stock valued at $317,000 after buying an additional 65 shares during the last quarter. Finally, Prairie Sky Financial Group LLC increased its position in shares of American Express by 1.6% during the fourth quarter. Prairie Sky Financial Group LLC now owns 4,181 shares of the payment services company’s stock valued at $783,000 after acquiring an additional 66 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Express

In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the sale, the insider now owns 57,512 shares in the company, valued at $12,248,905.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard Grosfield sold 7,029 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares in the company, valued at $2,522,816.20. The disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock worth $36,528,388 over the last three months. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on AXP shares. The Goldman Sachs Group lifted their target price on American Express from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Monness Crespi & Hardt began coverage on shares of American Express in a research report on Wednesday, December 20th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised shares of American Express from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $167.00 to $205.00 in a research report on Thursday, January 4th. Morgan Stanley cut American Express from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $212.00 to $222.00 in a report on Thursday, February 8th. Finally, Evercore ISI upped their price objective on American Express from $229.00 to $243.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $191.84.

Read Our Latest Analysis on AXP

American Express Stock Down 0.9 %

Shares of AXP opened at $225.58 on Wednesday. American Express has a 12-month low of $140.91 and a 12-month high of $231.69. The firm has a fifty day moving average price of $215.35 and a 200-day moving average price of $182.67. The firm has a market capitalization of $163.29 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.28 and a beta of 1.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXPGet Free Report) last announced its quarterly earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. Equities research analysts expect that American Express will post 12.83 earnings per share for the current year.

American Express Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.18%. American Express’s dividend payout ratio is currently 24.98%.

American Express Company Profile

(Free Report)

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.

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

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