Cullinan Associates Inc. lessened its stake in shares of American Express Company (NYSE:AXP) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,127 shares of the payment services company’s stock after selling 22,100 shares during the period. Cullinan Associates Inc.’s holdings in American Express were worth $6,666,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Appleton Partners Inc. MA grew its stake in shares of American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after acquiring an additional 8 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in shares of American Express by 0.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after acquiring an additional 11 shares during the last quarter. Dearborn Partners LLC grew its stake in shares of American Express by 0.6% in the second quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after acquiring an additional 18 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of American Express by 0.4% in the second quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 83.36% of the company’s stock.

Shares of American Express Company (AXP) traded up $0.42 during midday trading on Wednesday, hitting $100.76. The company’s stock had a trading volume of 4,469,669 shares, compared to its average volume of 3,110,000. The company has a market capitalization of $87,460.00, a PE ratio of 19.45, a PEG ratio of 1.44 and a beta of 1.22. American Express Company has a 12 month low of $75.39 and a 12 month high of $102.39. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.24 earnings per share. equities analysts forecast that American Express Company will post 5.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. American Express’s payout ratio is presently 27.03%.

In related news, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now directly owns 92,504 shares of the company’s stock, valued at $9,199,522.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Sobbott sold 5,500 shares of American Express stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock valued at $42,823,869 over the last ninety days. 0.67% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on AXP. Sandler O’Neill restated a “buy” rating on shares of American Express in a research note on Wednesday. Barclays set a $119.00 price objective on shares of American Express and gave the stock an “equal weight” rating in a research note on Thursday, January 11th. BMO Capital Markets restated a “hold” rating and issued a $103.00 price objective on shares of American Express in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research note on Thursday, January 11th. Finally, Stephens set a $89.00 price objective on shares of American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $98.96.

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American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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