Mindset Wealth Management LLC Trims Holdings in American Express (NYSE:AXP)

Mindset Wealth Management LLC lessened its holdings in shares of American Express (NYSE:AXP) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,737 shares of the payment services company’s stock after selling 368 shares during the period. American Express comprises approximately 0.9% of Mindset Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position. Mindset Wealth Management LLC’s holdings in American Express were worth $2,593,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AXP. Prospera Private Wealth LLC purchased a new stake in shares of American Express in the third quarter valued at approximately $27,000. True Wealth Design LLC increased its position 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 in the last quarter. Curio Wealth LLC acquired a new position in shares of American Express during the fourth quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of American Express during the third quarter worth $38,000. Finally, Financial Life Planners acquired a new position in shares of American Express in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group cut their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday. Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research report on Friday, March 14th. Finally, Keefe, Bruyette & Woods increased their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.52.

American Express Trading Up 0.1 %

Shares of American Express stock opened at $270.80 on Friday. The firm has a market capitalization of $190.24 billion, a PE ratio of 19.33, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a twelve month low of $214.51 and a twelve month high of $326.28. The firm’s 50-day moving average price is $298.77 and its 200 day moving average price is $288.23. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released its quarterly earnings data 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 net margin of 15.36% and a return on equity of 32.65%. On average, sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This is an increase 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 yield of 1.21%. American Express’s dividend payout ratio is presently 23.41%.

Insider Buying and Selling at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.