Zullo Investment Group Inc. Has $1.01 Million Stock Holdings in American Express (NYSE:AXP)

Zullo Investment Group Inc. lifted its stake in American Express (NYSE:AXP) by 4.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,397 shares of the payment services company’s stock after purchasing an additional 130 shares during the period. Zullo Investment Group Inc.’s holdings in American Express were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC boosted its holdings in shares of American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after acquiring an additional 33 shares in the last quarter. Catalina Capital Group LLC increased its position in American Express by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares during the period. Boston Financial Mangement LLC increased its position in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares during the period. Auxier Asset Management raised its position in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after acquiring an additional 35 shares in the last quarter. Finally, Abel Hall LLC lifted its stake in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AXP shares. JPMorgan Chase & Co. raised their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Evercore ISI boosted their price objective 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. Citigroup upped their price objective on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Compass Point decreased their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $296.38.

Insider Buying and Selling

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 completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s 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 sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,664 shares of company stock valued at $9,613,503 over the last three months. Corporate insiders own 0.11% of the company’s stock.

American Express Trading Down 0.9 %

AXP 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 PEG ratio of 1.48 and a beta of 1.24. American Express has a one year low of $209.10 and a one year high of $326.27. The business has a 50 day simple moving average of $307.61 and a two-hundred day simple moving average of $283.65. 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, 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%. Analysts predict that American Express will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio is currently 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.