Resonant Capital Advisors LLC Has $3.14 Million Stake in American Express (NYSE:AXP)

Resonant Capital Advisors LLC decreased its position in American Express (NYSE:AXP) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,760 shares of the payment services company’s stock after selling 1,260 shares during the period. Resonant Capital Advisors LLC’s holdings in American Express were worth $3,140,000 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. BKM Wealth Management LLC bought a new stake in American Express in the fourth quarter valued at $28,000. Tennessee Valley Asset Management Partners bought a new stake in American Express in the fourth quarter valued at $28,000. Baldwin Brothers LLC MA increased its stake in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in American Express in the second quarter valued at $27,000. Finally, Pacifica Partners Inc. bought a new stake in American Express in the fourth quarter valued at $29,000. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXP. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets boosted their target price on shares of American Express from $157.00 to $159.00 and gave the stock an “underperform” rating in a research report on Monday, January 29th. Monness Crespi & Hardt raised shares of American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research report on Friday, April 5th. Morgan Stanley downgraded shares of American Express from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $212.00 to $222.00 in a research report on Thursday, February 8th. Finally, Evercore ISI boosted their target price on shares of American Express from $229.00 to $243.00 and gave the stock 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 nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $201.62.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard Grosfield sold 7,029 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares in the company, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,047 shares of company stock worth $36,528,388. 0.12% of the stock is owned by corporate insiders.

American Express Stock Performance

AXP traded up $12.59 during midday trading on Friday, reaching $230.09. The company had a trading volume of 5,599,474 shares, compared to its average volume of 3,105,577. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $166.56 billion, a PE ratio of 20.45, a P/E/G ratio of 1.25 and a beta of 1.23. American Express has a 12-month low of $140.91 and a 12-month high of $231.69. The business has a 50-day moving average price of $219.68 and a two-hundred day moving average price of $187.79.

American Express (NYSE:AXP) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.32. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. On average, sell-side analysts expect that American Express will post 12.83 earnings per share for the current fiscal year.

American Express Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is currently 24.98%.

American Express Company Profile

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.