Congress Wealth Management LLC DE Sells 27,462 Shares of American Express (NYSE:AXP)

Congress Wealth Management LLC DE decreased its position in American Express (NYSE:AXP) by 39.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,095 shares of the payment services company’s stock after selling 27,462 shares during the quarter. Congress Wealth Management LLC DE’s holdings in American Express were worth $12,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of American Express by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after acquiring an additional 86,100 shares during the last quarter. FMR LLC lifted its stake in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the last quarter. Fisher Asset Management LLC boosted its position in American Express by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after buying an additional 95,927 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of American Express by 5.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after buying an additional 239,173 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of American Express by 0.8% in the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after buying an additional 33,193 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 2.8 %

Shares of NYSE:AXP opened at $277.98 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock has a fifty day simple moving average of $297.92 and a two-hundred day simple moving average of $288.99. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The stock has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly 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%. On average, research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.18%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Buying and Selling

In related news, 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 sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AXP shares. UBS Group raised their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Morgan Stanley raised their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $302.57.

American Express Company 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.