Global Trust Asset Management LLC Has $592,000 Position in American Express (NYSE:AXP)

Global Trust Asset Management LLC reduced its position in shares of American Express (NYSE:AXP) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,599 shares of the payment services company’s stock after selling 400 shares during the period. Global Trust Asset Management LLC’s holdings in American Express were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AXP. Scarborough Advisors LLC bought a new position in American Express during the 4th quarter worth $25,000. BKM Wealth Management LLC bought a new position in American Express during the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners bought a new position in American Express during the 4th quarter worth $28,000. Pacifica Partners Inc. bought a new position in shares of American Express in the 4th quarter valued at $29,000. Finally, Baldwin Brothers LLC MA increased its stake in shares of American Express by 134.8% in the 4th 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 during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Robert W. Baird lifted their price target on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Morgan Stanley lifted their price target on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Wells Fargo & Company raised their price objective on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Finally, Evercore ISI raised their price objective on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $220.30.

American Express Trading Up 0.8 %

AXP traded up $1.83 during midday trading on Monday, hitting $232.21. 844,899 shares of the company were exchanged, compared to its average volume of 3,042,097. The firm has a market capitalization of $167.03 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.31 and a beta of 1.22. 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’s 50 day moving average price is $233.69 and its 200-day moving average price is $214.27. American Express has a 1-year low of $140.91 and a 1-year high of $244.41.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 EPS. As a group, equities analysts forecast that American Express will post 13 EPS 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. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s payout ratio is currently 23.06%.

Insider Activity

In related news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $232.36, for a total value of $729,842.76. Following the sale, the executive vice president now directly owns 258 shares of the company’s stock, valued at $59,948.88. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 in the last ninety days. 0.12% of the stock is owned by company insiders.

About American Express

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.