Forte Capital LLC ADV Has $432,000 Stake in American Express (NYSE:AXP)

Forte Capital LLC ADV increased its holdings in American Express (NYSE:AXP) by 27.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,305 shares of the payment services company’s stock after buying an additional 492 shares during the period. Forte Capital LLC ADV’s holdings in American Express were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXP. BKM Wealth Management LLC acquired a new stake in shares of American Express in the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in American Express during the fourth quarter valued at approximately $28,000. BluePath Capital Management LLC acquired a new position in American Express during the third quarter valued at approximately $29,000. Pacifica Partners Inc. acquired a new position in American Express during the fourth quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA raised its position in American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 0.7 %

AXP traded down $1.73 during trading on Friday, reaching $230.77. 3,203,304 shares of the stock traded hands, compared to its average volume of 3,577,762. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $165.99 billion, a PE ratio of 19.01, a P/E/G ratio of 1.33 and a beta of 1.20. The stock’s 50-day moving average is $224.63 and its 200 day moving average is $194.30. American Express has a 12 month low of $140.91 and a 12 month high of $240.55.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.40 EPS. Equities analysts anticipate that American Express will post 12.99 earnings per share for the current year.

American Express Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. American Express’s dividend payout ratio is presently 23.06%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. Royal Bank of Canada boosted their price objective on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays reiterated an “equal weight” rating and set a $221.00 price target (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. Oppenheimer reiterated an “outperform” rating on shares of American Express in a report on Friday, April 5th. Wells Fargo & Company upped their price target on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley upped their price target on shares of American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $210.71.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the sale, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other American Express news, insider Laureen Seeger sold 84,420 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the sale, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 203,891 shares of company stock worth $44,373,196 in the last quarter. Insiders own 0.12% 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.