Adero Partners LLC Sells 110 Shares of American Express (NYSE:AXP)

Adero Partners LLC decreased its holdings in American Express (NYSE:AXP) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,219 shares of the payment services company’s stock after selling 110 shares during the quarter. Adero Partners LLC’s holdings in American Express were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Venture Visionary Partners LLC lifted its position in American Express by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in American Express by 5.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock worth $2,171,000 after acquiring an additional 609 shares during the period. Cerity Partners LLC grew its holdings in American Express by 417.3% during the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after acquiring an additional 335,338 shares during the period. Cullen Investment Group LTD. acquired a new position in shares of American Express in the 4th quarter valued at $2,460,000. Finally, J.W. Cole Advisors Inc. boosted its position in shares of American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock worth $1,837,000 after purchasing an additional 2,572 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP traded up $2.78 during mid-day trading on Friday, hitting $240.00. The stock had a trading volume of 5,102,491 shares, compared to its average volume of 2,292,172. The firm has a market cap of $172.63 billion, a P/E ratio of 19.77, a PEG ratio of 1.35 and a beta of 1.20. American Express has a 52 week low of $140.91 and a 52 week high of $244.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. The business has a fifty day moving average price of $231.76 and a 200-day moving average price of $206.85.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. On average, equities research analysts expect that American Express will post 13.01 EPS for the current 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 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is 23.06%.

Insiders Place Their Bets

In related news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares in the company, valued at $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Anna Marrs sold 3,592 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the sale, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the completion of the sale, the insider now directly owns 16,371 shares in the company, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock worth $41,680,999 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on AXP shares. Wells Fargo & Company upped their price target on shares of American Express from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their price target on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Robert W. Baird lifted their target price on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $215.00.

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.