Nemes Rush Group LLC Has $4.87 Million Holdings in American Express (NYSE:AXP)

Nemes Rush Group LLC trimmed its holdings in American Express (NYSE:AXP) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,412 shares of the payment services company’s stock after selling 108 shares during the period. Nemes Rush Group LLC’s holdings in American Express were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AXP. Edgestream Partners L.P. increased its position in shares of American Express by 493.9% during the third quarter. Edgestream Partners L.P. now owns 7,382 shares of the payment services company’s stock worth $2,002,000 after acquiring an additional 6,139 shares in the last quarter. True Wealth Design LLC raised its stake in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Erste Asset Management GmbH acquired a new position in shares of American Express during the third quarter worth about $7,408,000. FSA Wealth Management LLC bought a new position in American Express in the third quarter valued at $66,000. Finally, Kestra Investment Management LLC raised its holdings in American Express by 19.2% during the third quarter. Kestra Investment Management LLC now owns 3,912 shares of the payment services company’s stock worth $1,061,000 after acquiring an additional 630 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXP shares. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Royal Bank of Canada upped their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Compass Point dropped their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Citigroup decreased their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $302.57.

Insiders Place Their Bets

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

American Express Price Performance

AXP stock opened at $269.25 on Tuesday. 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 company’s 50-day moving average is $294.15 and its 200-day moving average is $289.78. The stock has a market capitalization of $189.16 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 1 year low of $214.51 and a 1 year high of $326.28.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts expect that American Express will post 15.33 EPS 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is presently 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.