LGT Group Foundation Boosts Stake in American Express (NYSE:AXP)

LGT Group Foundation grew its position in shares of American Express (NYSE:AXP) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,353 shares of the payment services company’s stock after acquiring an additional 564 shares during the period. LGT Group Foundation’s holdings in American Express were worth $5,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of American Express during the 3rd quarter worth approximately $27,000. Kennebec Savings Bank purchased a new stake in shares of American Express in the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew 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 worth $29,000 after buying an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express in the 3rd quarter worth approximately $38,000. Finally, Financial Life Planners purchased a new stake in shares of American Express in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

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

American Express Price Performance

NYSE AXP opened at $295.12 on Tuesday. The business’s fifty day moving average price is $307.36 and its 200-day moving average price is $287.39. The stock has a market capitalization of $207.33 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 1-year low of $214.51 and a 1-year high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings data 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%. On average, equities analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business 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. This represents a $3.28 annualized dividend and a dividend yield of 1.11%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 19.99%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXP. Morgan Stanley upped their price target on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Monness Crespi & Hardt upped their price target on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Citigroup upped their price target on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $296.38.

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.