American Express (NYSE:AXP) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its stake in shares of American Express (NYSE:AXP) by 36.2% during the first quarter, HoldingsChannel.com reports. The firm owned 8,963 shares of the payment services company’s stock after selling 5,078 shares during the period. Concurrent Investment Advisors LLC’s holdings in American Express were worth $2,041,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Game Plan Financial Advisors LLC grew its holdings in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in American Express in the fourth quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in American Express during the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners bought a new position in American Express during the 4th quarter worth approximately $28,000. Finally, Sachetta LLC bought a new position in American Express during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Transactions at American Express

In related news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $232.36, for a total transaction of $729,842.76. Following the transaction, the executive vice president now directly owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock valued at $41,680,999 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

American Express Price Performance

Shares of AXP traded up $5.37 during mid-day trading on Monday, hitting $244.00. The company’s stock had a trading volume of 2,981,670 shares, compared to its average volume of 2,999,423. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.66. The stock has a market capitalization of $175.51 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.37 and a beta of 1.21. The firm has a 50-day moving average price of $234.97 and a 200 day moving average price of $220.11. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. During the same period in the prior year, the business posted $2.40 earnings per share. American Express’s revenue was up 10.6% compared to the same quarter last year. On average, research analysts predict that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The company 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.15%. This is a boost from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AXP. HSBC upped their price target on American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. TD Cowen increased their target price on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Citigroup began coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $226.18.

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.