Envestnet Asset Management Inc. Sells 40,244 Shares of American Express (NYSE:AXP)

Envestnet Asset Management Inc. lessened its stake in American Express (NYSE:AXP) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,435 shares of the payment services company’s stock after selling 40,244 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of American Express worth $202,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AXP. Newbridge Financial Services Group Inc. acquired a new position in American Express during the 4th quarter valued at about $832,000. World Investment Advisors LLC grew its holdings in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after acquiring an additional 3,867 shares during the period. Keybank National Association OH raised its position in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after acquiring an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI lifted its stake in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares during the period. Finally, Edge Capital Group LLC boosted its position in shares of American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after purchasing an additional 1,113 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

NYSE:AXP opened at $233.50 on Monday. The company has a market cap of $164.04 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16. The firm’s fifty day moving average price is $288.96 and its two-hundred day moving average price is $289.63. American Express has a one year low of $214.51 and a one year high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Equities analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.40%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is currently 23.41%.

Insiders Place Their Bets

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group cut their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley raised their price objective on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Bank of America decreased their price objective on American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $302.24.

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.