Pettyjohn Wood & White Inc. Has $229,000 Stock Holdings in American Express (NYSE:AXP)

Pettyjohn Wood & White Inc. cut its position in shares of American Express (NYSE:AXP) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,397 shares of the payment services company’s stock after selling 122 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in American Express were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Tower View Investment Management & Research LLC acquired a new stake in American Express during the third quarter worth about $34,000. Bell Investment Advisors Inc acquired a new stake in American Express during the third quarter worth about $34,000. Consolidated Planning Corp acquired a new stake in American Express during the third quarter worth about $34,000. FSB Premier Wealth Management Inc. acquired a new stake in American Express during the fourth quarter worth about $38,000. Finally, D Orazio & Associates Inc. acquired a new stake in American Express during the third quarter worth about $43,000. 83.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of American Express stock traded up $2.60 during trading on Tuesday, hitting $187.08. The company’s stock had a trading volume of 40,255 shares, compared to its average volume of 4,269,414. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.68 and a quick ratio of 1.68. American Express has a 52 week low of $140.68 and a 52 week high of $199.55. The stock has a market cap of $141.67 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The stock has a 50-day moving average price of $184.86 and a two-hundred day moving average price of $176.17.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings data on Tuesday, January 25th. The payment services company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.40. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.55 billion. American Express had a net margin of 18.92% and a return on equity of 33.20%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, equities analysts predict that American Express will post 9.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 8th will be given a dividend of $0.52 per share. This is an increase from American Express’s previous quarterly dividend of $0.43. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, April 7th. American Express’s dividend payout ratio is currently 20.82%.

A number of research firms have weighed in on AXP. Daiwa Capital Markets raised American Express from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $215.00 in a report on Thursday, February 10th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Monday, April 11th. Barclays lifted their price objective on American Express from $182.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Wells Fargo & Company lifted their price objective on American Express from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, January 26th. Finally, StockNews.com began coverage on American Express in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and a consensus price target of $197.82.

In other American Express news, insider Anre D. Williams sold 139,909 shares of the firm’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $196.82, for a total value of $27,536,889.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 267,656 shares of the firm’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $178.60, for a total transaction of $47,803,361.60. The disclosure for this sale can be found here. Insiders have sold a total of 440,177 shares of company stock valued at $81,094,533 over the last three months. Insiders own 0.11% of the company’s stock.

About American Express (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Read More

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPGet Rating).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.