Sei Investments Co. Decreases Stake in American Express (NYSE:AXP)

Sei Investments Co. cut its holdings in American Express (NYSE:AXP) by 16.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 328,265 shares of the payment services company’s stock after selling 63,543 shares during the quarter. Sei Investments Co.’s holdings in American Express were worth $97,422,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently 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. Landscape Capital Management L.L.C. purchased a new stake in American Express during the third quarter worth $1,175,000. Pacer Advisors Inc. boosted its position in American Express by 2.7% during the third quarter. Pacer Advisors Inc. now owns 41,652 shares of the payment services company’s stock worth $11,296,000 after purchasing an additional 1,098 shares in the last quarter. Eagle Asset Management Inc. boosted its position in American Express by 30.6% during the third quarter. Eagle Asset Management Inc. now owns 7,049 shares of the payment services company’s stock worth $2,027,000 after purchasing an additional 1,651 shares in the last quarter. Finally, 49 Wealth Management LLC purchased a new stake in American Express during the third quarter worth $254,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Raymond Joabar sold 15,179 shares of the company’s 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

American Express Stock Performance

Shares of NYSE:AXP opened at $270.48 on Friday. The firm has a market capitalization of $190.02 billion, a PE ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21. 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 business has a 50-day moving average of $298.30 and a two-hundred day moving average of $288.55. American Express has a 12 month low of $214.51 and a 12 month high of $326.28.

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 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%. As a group, research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.21%. American Express’s dividend payout ratio is currently 23.41%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI boosted their target price 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. Bank of America decreased their target price on American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley boosted their target price on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus target price of $303.52.

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.