Vivid Wealth Management LLC Lowers Position in American Express (NYSE:AXP)

Vivid Wealth Management LLC cut its holdings in American Express (NYSE:AXP) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,854 shares of the payment services company’s stock after selling 43 shares during the quarter. American Express makes up about 1.3% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 24th largest position. Vivid Wealth Management LLC’s holdings in American Express were worth $2,628,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AXP. International Assets Investment Management LLC increased its holdings in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares in the last quarter. FMR LLC increased its holdings in American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after buying an additional 866,110 shares during the period. Pathway Financial Advisers LLC increased its holdings in American Express by 59,816.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after buying an additional 681,304 shares during the period. World Investment Advisors LLC increased its holdings in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares during the period. Finally, National Bank of Canada FI increased its holdings in American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 1.3 %

Shares of AXP opened at $311.37 on Friday. American Express has a 52-week low of $209.10 and a 52-week high of $326.27. The company has a market capitalization of $219.34 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The stock has a fifty day simple moving average of $306.81 and a two-hundred day simple moving average of $281.60. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued 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 return on equity of 32.65% and a net margin of 15.36%. As a group, equities analysts forecast that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, January 3rd. American Express’s payout ratio is 19.99%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank of Canada upped their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Citigroup upped their price objective on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Morgan Stanley increased their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their target price on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $296.38.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s 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 of the company’s stock, 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. In the last ninety days, insiders sold 30,664 shares of company stock valued at $9,613,503. 0.12% of the stock is currently owned by insiders.

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.