American Express (NYSE:AXP) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of American Express (NYSE:AXP) by 9.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,680 shares of the payment services company’s stock after selling 1,649 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in American Express were worth $4,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the third quarter worth $27,000. True Wealth Design LLC boosted its holdings in shares of 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 purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express during the third quarter worth $38,000. Financial Life Planners acquired a new stake in shares of American Express during the fourth quarter worth $38,000. Finally, Sierra Ocean LLC acquired a new stake in shares of American Express during the fourth quarter worth $40,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AXP. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective on the stock in a report on Friday, March 14th. The Goldman Sachs Group decreased their price objective on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $303.52.

Insider Activity

In other news, Director Michael J. Angelakis purchased 3,700 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Trading Down 0.6 %

NYSE:AXP opened at $262.71 on Wednesday. The business’s 50-day moving average is $300.06 and its two-hundred day moving average is $288.47. 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 $326.28. The firm has a market capitalization of $184.56 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. 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 announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.25%. American Express’s dividend payout ratio (DPR) is currently 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.