Concurrent Investment Advisors LLC Purchases 9,322 Shares of American Express (NYSE:AXP)

Concurrent Investment Advisors LLC increased its position in American Express (NYSE:AXP) by 83.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,526 shares of the payment services company’s stock after purchasing an additional 9,322 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in American Express were worth $6,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in American Express in the third quarter worth approximately $27,000. Kennebec Savings Bank purchased a new stake in American Express during the third quarter worth $29,000. True Wealth Design LLC lifted its holdings in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the period. Financial Life Planners purchased a new stake in American Express during the fourth quarter worth $38,000. Finally, Sierra Ocean LLC purchased a new stake in American Express during the fourth quarter worth $40,000. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AXP. Citigroup upped their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, January 27th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Evercore ISI upped their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada upped 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. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $296.38.

American Express Stock Performance

Shares of AXP stock opened at $309.90 on Thursday. The firm has a market capitalization of $217.71 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business has a fifty day moving average of $307.61 and a 200 day moving average of $283.65. American Express has a 1 year low of $209.10 and a 1 year high of $326.27.

American Express (NYSE:AXP) last issued its 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 return on equity of 32.65% and a net margin of 15.36%. As a group, research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.90%. American Express’s dividend payout ratio (DPR) is 19.99%.

Insider Buying and Selling

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated 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 sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock worth $9,613,503 in the last 90 days. Insiders own 0.11% of the company’s stock.

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.