GM Advisory Group LLC Reduces Stock Position in American Express (NYSE:AXP)

GM Advisory Group LLC cut its stake in American Express (NYSE:AXP) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,753 shares of the payment services company’s stock after selling 2,697 shares during the period. American Express makes up approximately 1.0% of GM Advisory Group LLC’s holdings, making the stock its 25th largest holding. GM Advisory Group LLC’s holdings in American Express were worth $18,328,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC boosted its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares during the last quarter. Boston Financial Mangement LLC boosted its holdings in shares of American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after purchasing an additional 34 shares during the last quarter. Auxier Asset Management boosted its holdings in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after purchasing an additional 35 shares during the last quarter. Finally, Abel Hall LLC boosted its holdings in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

American Express Price Performance

AXP opened at $262.71 on Wednesday. The company has a 50-day moving average of $300.06 and a 200-day moving average of $288.47. The company has a market capitalization of $184.56 billion, a P/E ratio of 18.75, a PEG ratio of 1.41 and a beta of 1.21. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

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

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.25%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is presently 23.41%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research analyst reports. BTIG Research lifted their price target on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a report on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, January 27th. UBS Group raised their target price on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a research note on Friday, March 14th. Finally, Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $303.52.

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.