Paragon Private Wealth Management LLC Reduces Holdings in American Express (NYSE:AXP)

Paragon Private Wealth Management LLC lowered its stake in shares of American Express (NYSE:AXP) by 9.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,458 shares of the payment services company’s stock after selling 456 shares during the period. Paragon Private Wealth Management LLC’s holdings in American Express were worth $835,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Venture Visionary Partners LLC boosted its position in shares of American Express by 0.3% during 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 period. Global Wealth Management Investment Advisory Inc. boosted its position in shares of American Express by 5.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock worth $2,171,000 after purchasing an additional 609 shares during the period. Cerity Partners LLC lifted its holdings in American Express by 417.3% during 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 stake in American Express during the 4th quarter worth approximately $2,460,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in American Express by 35.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock worth $1,837,000 after buying an additional 2,572 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of American Express in a report on Friday, April 26th. Wells Fargo & Company increased their target price on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. BMO Capital Markets increased their target price on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their target price on shares of American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $210.71.

View Our Latest Research Report on American Express

American Express Stock Up 0.6 %

NYSE:AXP traded up $1.50 during midday trading on Friday, hitting $242.82. 1,848,915 shares of the company were exchanged, compared to its average volume of 3,395,765. The company has a fifty day simple moving average of $228.61 and a 200 day simple moving average of $201.56. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $243.54. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $174.66 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data 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. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same period last year, the firm posted $2.40 EPS. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that American Express will post 12.99 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insiders Place Their Bets

In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,717 shares of company stock valued at $41,680,999. Insiders own 0.12% of the company’s stock.

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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