Phoenix Wealth Advisors Cuts Stock Holdings in American Express (NYSE:AXP)

Phoenix Wealth Advisors decreased its stake in shares of American Express (NYSE:AXP) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,143 shares of the payment services company’s stock after selling 46 shares during the period. Phoenix Wealth Advisors’ holdings in American Express were worth $636,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Auxier Asset Management boosted its position in shares of American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after buying an additional 35 shares during the last quarter. Abel Hall LLC boosted its position in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares during the last quarter. Sunflower Bank N.A. boosted its position in American Express by 0.9% in the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after purchasing an additional 35 shares during the last quarter. Sovereign Financial Group Inc. boosted its position in American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares during the last quarter. Finally, Lmcg Investments LLC boosted its position in American Express by 2.0% in the fourth quarter. Lmcg Investments LLC now owns 1,988 shares of the payment services company’s stock worth $590,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $318.07 on Wednesday. The firm has a market capitalization of $224.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $300.24 and its two-hundred day simple moving average is $273.36. American Express has a twelve month low of $184.06 and a twelve month high of $319.70.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.88%. American Express’s dividend payout ratio is currently 20.60%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI boosted their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Compass Point boosted their price objective on American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. TD Cowen upped their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upped their price target on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $278.09.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.