Welch & Forbes LLC Sells 502 Shares of American Express (NYSE:AXP)

Welch & Forbes LLC decreased its holdings in American Express (NYSE:AXP) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,890 shares of the payment services company’s stock after selling 502 shares during the period. Welch & Forbes LLC’s holdings in American Express were worth $16,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Venture Visionary Partners LLC lifted its stake in shares of American Express by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock worth $4,349,000 after purchasing an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of American Express by 5.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after buying an additional 609 shares in the last quarter. Cerity Partners LLC grew its position in shares of American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after buying an additional 335,338 shares during the last quarter. Cullen Investment Group LTD. purchased a new stake in American Express during the fourth quarter valued at approximately $2,460,000. Finally, J.W. Cole Advisors Inc. boosted its stake in American Express by 35.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after acquiring an additional 2,572 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

American Express stock traded up $3.52 during trading on Monday, reaching $234.29. The company had a trading volume of 2,259,187 shares, compared to its average volume of 3,200,852. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The firm’s 50-day simple moving average is $224.98 and its 200 day simple moving average is $195.48. The firm has a market capitalization of $168.52 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. American Express has a 1-year low of $140.91 and a 1-year high of $240.55.

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

American Express Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

AXP has been the subject of several analyst reports. Monness Crespi & Hardt upgraded American Express from a “neutral” rating to a “buy” rating and set a $245.00 price objective for the company in a report on Friday, April 5th. Barclays restated an “equal weight” rating and set a $221.00 price target (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. HSBC increased their price objective on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Oppenheimer reissued an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $210.71.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Monique Herena sold 11,242 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the completion of the sale, the insider now owns 13,874 shares of the company’s stock, valued at $2,891,480.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,200 shares of company stock valued at $71,640,500. 0.11% of the stock is owned by insiders.

American Express Company 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.