Marco Investment Management LLC Decreases Stock Position in American Express (NYSE:AXP)

Marco Investment Management LLC reduced its position in American Express (NYSE:AXP) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,459 shares of the payment services company’s stock after selling 2,245 shares during the quarter. American Express makes up about 1.8% of Marco Investment Management LLC’s holdings, making the stock its 14th largest position. Marco Investment Management LLC’s holdings in American Express were worth $21,208,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AXP. Opal Wealth Advisors LLC grew its stake in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after buying an additional 33 shares during the last quarter. Catalina Capital Group LLC boosted its stake 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 last quarter. Boston Financial Mangement LLC boosted its stake in American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after purchasing an additional 34 shares during the last quarter. Auxier Asset Management boosted its stake in American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after purchasing an additional 35 shares during the last quarter. Finally, Abel Hall LLC boosted its stake in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXP has been the topic of several recent analyst reports. BTIG Research increased their target price on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Compass Point lowered their price target on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Monness Crespi & Hardt increased their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, January 27th. Finally, Citigroup increased their price target on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $296.38.

Insider Activity

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express 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 completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $275.32 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The business’s 50-day simple moving average is $306.00 and its two-hundred day simple moving average is $287.50. The stock has a market cap of $193.42 billion, a PE ratio of 19.65, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 52 week low of $214.51 and a 52 week high of $326.27.

American Express (NYSE:AXP) last posted 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 return on equity of 32.65% and a net margin of 15.36%. As a group, analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.19%. American Express’s dividend payout ratio (DPR) is presently 23.41%.

American Express 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.