American Express (NYSE:AXP) Shares Sold by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC reduced its position in American Express (NYSE:AXP) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,114 shares of the payment services company’s stock after selling 526 shares during the period. American Express makes up approximately 1.9% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 17th largest holding. Galvin Gaustad & Stein LLC’s holdings in American Express were worth $20,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. World Investment Advisors LLC lifted its stake in shares of American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares in the last quarter. XML Financial LLC lifted its stake in shares of American Express by 9.8% in the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock valued at $306,000 after purchasing an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI lifted its stake in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after purchasing an additional 7,885 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in American Express by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after acquiring an additional 247,864 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

Shares of AXP opened at $325.62 on Thursday. The company has a market cap of $229.38 billion, a P/E ratio of 23.91, a PEG ratio of 1.49 and a beta of 1.23. The stock has a fifty day moving average price of $300.94 and a 200 day moving average price of $273.70. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 12 month low of $185.73 and a 12 month high of $325.00.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.86%. American Express’s payout ratio is currently 20.60%.

Analysts Set New Price Targets

Several equities analysts recently commented on AXP shares. Morgan Stanley boosted their price target on American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Compass Point boosted their price target on American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $278.09.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

About American Express

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.