Intech Investment Management LLC Trims Stock Position in American Express (NYSE:AXP)

Intech Investment Management LLC trimmed its holdings in American Express (NYSE:AXP) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,846 shares of the payment services company’s stock after selling 2,153 shares during the quarter. American Express comprises approximately 1.0% of Intech Investment Management LLC’s portfolio, making the stock its 29th largest holding. Intech Investment Management LLC’s holdings in American Express were worth $34,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of American Express in the 3rd quarter worth $27,000. True Wealth Design LLC grew its holdings in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Curio Wealth LLC purchased a new position in American Express during the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express in the 3rd quarter valued at approximately $38,000. Finally, Financial Life Planners acquired a new stake in shares of American Express during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 0.5 %

Shares of NYSE AXP opened at $264.36 on Tuesday. The business has a 50-day moving average price of $300.85 and a 200 day moving average price of $288.45. The stock has a market cap of $185.72 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52-week low of $214.51 and a 52-week high of $326.28.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. American Express’s dividend payout ratio is 23.41%.

Analyst Ratings Changes

Several research firms have issued reports on AXP. Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Compass Point reduced their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. UBS Group lifted their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. StockNews.com cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $299.24.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Company 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.