American Express (NYSE:AXP) Stake Cut by Central Securities Corp

Central Securities Corp lessened its stake in shares of American Express (NYSE:AXP) by 11.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,000 shares of the payment services company’s stock after selling 20,000 shares during the quarter. American Express comprises 4.0% of Central Securities Corp’s portfolio, making the stock its 10th largest holding. Central Securities Corp’s holdings in American Express were worth $44,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in American Express by 1.3% during the fourth quarter. Cerity Partners LLC now owns 152,682 shares of the payment services company’s stock valued at $44,434,000 after buying an additional 1,917 shares during the period. 2Xideas AG boosted its position in shares of American Express by 39.7% during the 4th quarter. 2Xideas AG now owns 46,381 shares of the payment services company’s stock valued at $13,765,000 after acquiring an additional 13,173 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of American Express by 29.9% during the fourth quarter. Federated Hermes Inc. now owns 290,864 shares of the payment services company’s stock worth $86,326,000 after purchasing an additional 66,956 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its position in shares of American Express by 74.1% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 47,000 shares of the payment services company’s stock worth $13,949,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in American Express by 7.7% in the fourth quarter. Russell Investments Group Ltd. now owns 612,534 shares of the payment services company’s stock valued at $181,827,000 after purchasing an additional 43,938 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE AXP opened at $233.50 on Monday. 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 $326.28. The company’s 50-day moving average is $288.96 and its 200 day moving average is $289.63. The stock has a market capitalization of $164.04 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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, sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.40%. American Express’s dividend payout ratio is currently 23.41%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research analyst reports. Compass Point decreased their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research report on Friday, March 14th. Keefe, Bruyette & Woods increased their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. UBS Group boosted their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $302.24.

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’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 transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

American Express 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.