American Express (NYSE:AXP) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its stake in shares of American Express (NYSE:AXP) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,512 shares of the payment services company’s stock after selling 2,870 shares during the period. Edgestream Partners L.P.’s holdings in American Express were worth $1,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BBR Partners LLC increased its position in American Express by 43.5% during the fourth quarter. BBR Partners LLC now owns 1,801 shares of the payment services company’s stock worth $535,000 after purchasing an additional 546 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of American Express by 23.1% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 9,823 shares of the payment services company’s stock worth $2,915,000 after acquiring an additional 1,844 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its position in shares of American Express by 46.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 1,177 shares of the payment services company’s stock worth $349,000 after acquiring an additional 373 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of American Express in the fourth quarter worth $3,981,000. Finally, Hartford Funds Management Co LLC increased its position in shares of American Express by 6.0% in the fourth quarter. Hartford Funds Management Co LLC now owns 9,978 shares of the payment services company’s stock worth $2,962,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 4.4 %

NYSE AXP opened at $261.27 on Tuesday. The company’s fifty day moving average price is $304.72 and its two-hundred day moving average price is $288.26. 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 has a 12 month low of $214.51 and a 12 month high of $326.27. The company has a market capitalization of $183.55 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly 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 net margin of 15.36% and a return on equity of 32.65%. As a group, research analysts predict 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. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insider Transactions at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the 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 sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AXP shares. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Citigroup increased their price objective on shares of 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 price objective on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, BTIG Research upped their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $296.38.

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.