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.
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.
- Get a free copy of the StockNews.com research report on American Express (AXP)
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