Frank Rimerman Advisors LLC Acquires 93 Shares of American Express (NYSE:AXP)

Frank Rimerman Advisors LLC boosted its holdings in shares of American Express (NYSE:AXP) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,174 shares of the payment services company’s stock after purchasing an additional 93 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in American Express were worth $3,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in American Express during the 3rd quarter valued at approximately $27,000. True Wealth Design LLC raised its stake in American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. bought a new stake in American Express during the 3rd quarter valued at approximately $38,000. Financial Life Planners bought a new stake in American Express during the 4th quarter valued at approximately $38,000. Finally, Sierra Ocean LLC bought a new stake in American Express in the 4th quarter worth approximately $40,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Royal Bank of Canada lifted their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Compass Point reduced their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. UBS Group lifted their price objective on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Finally, Monness Crespi & Hardt lifted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $299.24.

American Express Trading Up 3.7 %

AXP opened at $266.04 on Friday. The firm has a market cap of $186.90 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The stock has a fifty day moving average price of $301.59 and a 200-day moving average price of $287.97.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping the consensus estimate 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 research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared 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. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

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.