American Express (NYSE:AXP) Shares Sold by Tucker Asset Management LLC

Tucker Asset Management LLC reduced its holdings in shares of American Express (NYSE:AXP) by 88.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103 shares of the payment services company’s stock after selling 814 shares during the period. Tucker Asset Management LLC’s holdings in American Express were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AXP. Geode Capital Management LLC lifted its stake in shares of American Express by 0.8% during the third quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after buying an additional 86,100 shares during the period. Fisher Asset Management LLC increased its holdings in shares of American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after purchasing an additional 95,927 shares during the period. Norges Bank purchased a new position in shares of American Express in the fourth quarter worth about $1,785,867,000. Janus Henderson Group PLC lifted its holdings in shares of American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after purchasing an additional 33,193 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in American Express by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,878,434 shares of the payment services company’s stock valued at $1,151,080,000 after buying an additional 14,282 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $265.16 on Friday. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The business’s 50-day simple moving average is $295.02 and its 200-day simple moving average is $289.43. 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 firm has a market capitalization of $186.28 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21.

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

American Express Increases Dividend

The company 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. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Buying and Selling

In related 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 value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AXP shares. Evercore ISI lifted their price objective on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. The Goldman Sachs Group cut their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. HSBC boosted their price objective on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $302.57.

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.