Eagle Global Advisors LLC Reduces Holdings in American Express (NYSE:AXP)

Eagle Global Advisors LLC lowered its position in shares of American Express (NYSE:AXP) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,475 shares of the payment services company’s stock after selling 1,499 shares during the quarter. Eagle Global Advisors LLC’s holdings in American Express were worth $12,453,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Venture Visionary Partners LLC increased its position in shares of American Express by 0.3% in the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock worth $4,349,000 after purchasing an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in shares of American Express by 5.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after acquiring an additional 609 shares in the last quarter. Cerity Partners LLC lifted its position in American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after buying an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. acquired a new position in shares of American Express during the 4th quarter worth $2,460,000. Finally, J.W. Cole Advisors Inc. grew its stake in American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after buying an additional 2,572 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the sale, the insider now owns 16,371 shares in the company, valued at $3,957,361.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of American Express stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the transaction, the executive vice president now owns 258 shares of the company’s stock, valued at approximately $59,948.88. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock worth $41,680,999 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of analyst reports. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. UBS Group lifted their target price on American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Evercore ISI lifted their price target on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. Barclays reaffirmed an “equal weight” rating and issued a $221.00 price objective (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. Finally, Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $210.71.

Get Our Latest Analysis on AXP

American Express Price Performance

Shares of American Express stock traded up $2.71 during trading hours on Friday, reaching $238.17. The stock had a trading volume of 1,624,182 shares, compared to its average volume of 3,083,569. The firm has a market capitalization of $171.32 billion, a PE ratio of 19.62, a PEG ratio of 1.37 and a beta of 1.20. The stock’s 50 day moving average is $230.10 and its 200 day moving average is $203.33. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a twelve month low of $140.91 and a twelve month high of $244.41.

American Express (NYSE:AXPGet Free Report) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts expect that American Express will post 13.01 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, July 5th. This is a positive change from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a yield of 1.18%. American Express’s dividend payout ratio is 23.06%.

About American Express

(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.

See Also

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPFree Report).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.