Intech Investment Management LLC Sells 11,885 Shares of American Express (NYSE:AXP)

Intech Investment Management LLC decreased its position in American Express (NYSE:AXP) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,856 shares of the payment services company’s stock after selling 11,885 shares during the period. Intech Investment Management LLC’s holdings in American Express were worth $8,029,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of American Express by 0.6% during the third quarter. Northern Trust Corp now owns 6,953,460 shares of the payment services company’s stock worth $1,037,387,000 after purchasing an additional 41,443 shares during the period. Norges Bank bought a new position in American Express in the fourth quarter valued at approximately $1,112,747,000. Charles Schwab Investment Management Inc. grew its stake in American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after purchasing an additional 667,695 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of American Express by 7.4% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,067,858 shares of the payment services company’s stock worth $387,392,000 after acquiring an additional 142,763 shares during the period. Finally, Barclays PLC lifted its holdings in American Express by 6.1% during the 3rd quarter. Barclays PLC now owns 1,800,045 shares of the payment services company’s stock worth $268,549,000 after purchasing an additional 102,977 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Jennifer Skyler sold 14,802 shares of American Express stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the sale, 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 SEC, which is accessible through this hyperlink. In other American Express news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the sale, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the sale, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 over the last ninety days. 0.12% of the stock is owned by insiders.

American Express Trading Up 1.2 %

Shares of AXP traded up $2.72 during trading hours on Friday, hitting $238.18. The company had a trading volume of 1,624,528 shares, compared to its average volume of 2,698,561. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm has a market cap of $171.32 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.35 and a beta of 1.20. American Express has a 52-week low of $140.91 and a 52-week high of $244.41. The stock’s 50 day moving average price is $230.50 and its 200 day moving average price is $204.28.

American Express (NYSE:AXP) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. On average, research analysts predict that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a dividend yield of 1.18%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXP. 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. Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Evercore ISI boosted 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. Oppenheimer reissued an “outperform” rating on shares of American Express in a report on Friday, April 5th. Finally, UBS Group boosted their price target on American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and an average price target of $215.00.

American Express 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.