BluePointe Capital Management LLC Makes New $245,000 Investment in American Express (NYSE:AXP)

BluePointe Capital Management LLC purchased a new position in shares of American Express (NYSE:AXP) during the fourth quarter, Holdings Channel.com reports. The fund purchased 825 shares of the payment services company’s stock, valued at approximately $245,000.

Several other hedge funds have also recently modified their holdings of AXP. Teacher Retirement System of Texas grew its position in American Express by 19.8% during the 4th quarter. Teacher Retirement System of Texas now owns 328,870 shares of the payment services company’s stock worth $97,605,000 after purchasing an additional 54,348 shares during the last quarter. Investment House LLC lifted its stake in shares of American Express by 0.8% during the fourth quarter. Investment House LLC now owns 99,605 shares of the payment services company’s stock worth $29,562,000 after buying an additional 818 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in shares of American Express by 140.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 11,616 shares of the payment services company’s stock valued at $3,449,000 after buying an additional 6,792 shares during the last quarter. Wulff Hansen & CO. acquired a new position in shares of American Express in the 4th quarter valued at $204,000. Finally, Bestgate Wealth Advisors LLC purchased a new position in American Express in the 4th quarter worth $322,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $270.66 on Thursday. The business’s 50 day moving average price is $299.41 and its 200-day moving average price is $288.35. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. 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 firm has a market capitalization of $190.15 billion, a PE ratio of 19.32, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last released 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 net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts expect 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. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 23.41%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley upped their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Compass Point reduced their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Evercore ISI upped their price objective on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. Finally, UBS Group raised their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $303.52.

Insider Transactions at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s 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 transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% 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.