American Express (NYSE:AXP) Shares Sold by Payden & Rygel

Payden & Rygel trimmed its holdings in shares of American Express (NYSE:AXP) by 3.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,800 shares of the payment services company’s stock after selling 2,500 shares during the quarter. American Express accounts for about 1.7% of Payden & Rygel’s investment portfolio, making the stock its 18th largest holding. Payden & Rygel’s holdings in American Express were worth $19,232,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Opal Wealth Advisors LLC boosted its stake in American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC raised its stake in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC lifted its position in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after purchasing an additional 34 shares during the last quarter. Abel Hall LLC grew its stake in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Finally, Sunflower Bank N.A. raised its stake in American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock valued at $1,203,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $233.50 on Friday. The business has a 50 day moving average price of $288.96 and a two-hundred day moving average price of $289.28. 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 company has a market capitalization of $164.04 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. American Express has a 1-year low of $214.51 and a 1-year high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. Research 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. Stockholders of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.40%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AXP shares. Compass Point decreased their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Royal Bank of Canada raised their price target on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. UBS Group boosted their price objective on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $302.24.

Insider Activity at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% 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.