American Express (NYSE:AXP) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lowered its position in shares of American Express (NYSE:AXP) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,331 shares of the payment services company’s stock after selling 52 shares during the quarter. Institute for Wealth Management LLC.’s holdings in American Express were worth $2,769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the third quarter worth $27,000. Kennebec Savings Bank acquired a new stake in American Express in the 3rd quarter worth about $29,000. True Wealth Design LLC grew its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of American Express during the 3rd quarter worth about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express in the third quarter worth approximately $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the business’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 sale, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares of the company’s stock, 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. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AXP has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday. Evercore ISI boosted their price target on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday. Barclays raised their price objective on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $294.95.

American Express Trading Up 1.1 %

American Express stock opened at $318.84 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67. American Express has a 1 year low of $199.88 and a 1 year high of $326.27. The firm’s 50-day moving average is $304.15 and its 200-day moving average is $276.54. The company has a market cap of $224.61 billion, a P/E ratio of 22.76, a PEG ratio of 1.48 and a beta of 1.23.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. On average, equities analysts expect that American Express will post 15.3 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.88%. American Express’s dividend payout ratio (DPR) is presently 19.99%.

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.