Financial Counselors Inc. Sells 767 Shares of American Express (NYSE:AXP)

Financial Counselors Inc. cut its stake in shares of American Express (NYSE:AXP) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,009 shares of the payment services company’s stock after selling 767 shares during the quarter. Financial Counselors Inc.’s holdings in American Express were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after acquiring an additional 86,100 shares during the last quarter. Fisher Asset Management LLC lifted its stake in American Express by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after purchasing an additional 95,927 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of American Express by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after purchasing an additional 239,173 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after purchasing an additional 33,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of American Express by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,878,434 shares of the payment services company’s stock valued at $1,151,080,000 after buying an additional 14,282 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $272.15 on Friday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The stock has a market cap of $191.19 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.41 and a beta of 1.21. The stock’s 50 day simple moving average is $295.97 and its two-hundred day simple moving average is $289.03. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

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

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. 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 dividend payout ratio (DPR) is presently 23.41%.

Analyst Ratings Changes

A number of research analysts have commented on AXP shares. BTIG Research increased their price target on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Citigroup reduced their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods boosted their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Evercore ISI raised their price target on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $302.57.

Insider Activity at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.