Kovack Advisors Inc. Has $763,000 Holdings in American Express (NYSE:AXP)

Kovack Advisors Inc. increased its holdings in shares of American Express (NYSE:AXP) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,351 shares of the payment services company’s stock after purchasing an additional 270 shares during the quarter. Kovack Advisors Inc.’s holdings in American Express were worth $763,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC boosted its stake in shares of 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 buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in American Express in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of American Express during the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of American Express during the 4th quarter worth approximately $28,000. Finally, Sachetta LLC acquired a new stake in shares of American Express in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP traded down $0.26 during trading on Thursday, reaching $235.71. The company’s stock had a trading volume of 1,365,850 shares, compared to its average volume of 2,733,787. American Express has a 12 month low of $140.91 and a 12 month high of $244.41. The firm has a 50 day moving average price of $234.65 and a 200 day moving average price of $217.18. The firm has a market capitalization of $169.55 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXP) last issued its quarterly earnings results 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 business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. As a group, equities analysts anticipate that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity at American Express

In other American Express news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction dated 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 sale, the insider now directly owns 16,371 shares in the company, valued at $3,957,361.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction 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 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 valued at $41,680,999 over the last quarter. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on AXP shares. Wells Fargo & Company upped their price target on shares of American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Monness Crespi & Hardt upgraded American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a report on Friday, April 5th. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada lifted their target price on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI boosted their target price on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $220.30.

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.