Cobblestone Capital Advisors LLC NY Sells 1,868 Shares of American Express (NYSE:AXP)

Cobblestone Capital Advisors LLC NY decreased its stake in shares of American Express (NYSE:AXP) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 81,726 shares of the payment services company’s stock after selling 1,868 shares during the period. American Express accounts for 1.3% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 21st largest position. Cobblestone Capital Advisors LLC NY’s holdings in American Express were worth $24,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AXP. Prospera Private Wealth LLC purchased a new stake in American Express during the 3rd quarter worth about $27,000. Kennebec Savings Bank purchased a new stake in American Express during the 3rd quarter worth about $29,000. True Wealth Design LLC lifted its holdings in American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in American Express during the 3rd quarter worth about $38,000. Finally, Financial Life Planners purchased a new stake in shares of American Express in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of American Express stock opened at $300.77 on Friday. 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 business’s 50 day simple moving average is $307.44 and its two-hundred day simple moving average is $286.43. The stock has a market capitalization of $211.30 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. American Express has a one year low of $214.51 and a one year high of $326.27.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.70 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Insider Activity

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AXP shares. Monness Crespi & Hardt raised their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Wells Fargo & Company raised their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup raised their price target on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, HSBC raised their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.38.

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.