American Express (NYSE:AXP) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in shares of American Express (NYSE:AXP) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,695 shares of the payment services company’s stock after selling 17,798 shares during the period. American Express makes up 1.0% of Martingale Asset Management L P’s holdings, making the stock its 17th biggest holding. Martingale Asset Management L P’s holdings in American Express were worth $39,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Tandem Investment Partners LLC purchased a new stake in American Express in the fourth quarter valued at approximately $243,000. APG Asset Management N.V. grew its stake in shares of American Express by 538.7% in the fourth quarter. APG Asset Management N.V. now owns 355,888 shares of the payment services company’s stock valued at $102,003,000 after buying an additional 300,168 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of American Express by 16.8% in the 4th quarter. Advisory Services Network LLC now owns 29,872 shares of the payment services company’s stock valued at $8,866,000 after buying an additional 4,288 shares during the period. Bernard Wealth Management Corp. acquired a new position in American Express during the 4th quarter worth about $50,000. Finally, Abacus FCF Advisors LLC boosted its holdings in American Express by 46.3% during the 4th quarter. Abacus FCF Advisors LLC now owns 43,121 shares of the payment services company’s stock valued at $12,798,000 after acquiring an additional 13,640 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

American Express Trading Down 1.4 %

NYSE:AXP opened at $230.98 on Wednesday. The company has a market capitalization of $162.27 billion, a PE ratio of 16.49, a P/E/G ratio of 1.41 and a beta of 1.16. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The stock’s 50 day moving average price is $283.91 and its 200 day moving average price is $288.71. 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 (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, research analysts anticipate that American Express will post 15.33 EPS 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 issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio is presently 23.41%.

Analyst Ratings Changes

AXP has been the topic of several research reports. HSBC increased their price target on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Citigroup dropped their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Morgan Stanley increased their price objective on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $299.24.

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.