American Express (NYSE:AXP) Stock Position Increased by RiverFront Investment Group LLC

RiverFront Investment Group LLC grew its position in American Express (NYSE:AXP) by 34.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,451 shares of the payment services company’s stock after purchasing an additional 370 shares during the period. RiverFront Investment Group LLC’s holdings in American Express were worth $431,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AXP. Geode Capital Management LLC grew its holdings in American Express by 0.8% in the 3rd 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 in the last quarter. Fisher Asset Management LLC grew its stake 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 worth $2,600,277,000 after purchasing an additional 95,927 shares in the last quarter. Norges Bank acquired a new position in shares of American Express during the fourth quarter valued at $1,785,867,000. Janus Henderson Group PLC raised its stake 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 valued at $1,074,168,000 after purchasing an additional 33,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 worth $1,151,080,000 after purchasing an additional 14,282 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 2.5 %

Shares of NYSE AXP opened at $265.16 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a one year low of $214.51 and a one year high of $326.28. The business has a 50-day moving average price of $295.02 and a two-hundred day moving average price of $289.43. The firm has a market capitalization of $186.28 billion, a PE ratio of 18.93, a PEG ratio of 1.41 and a beta of 1.21.

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

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Analysts Set New Price Targets

Several research firms have commented on AXP. The Goldman Sachs Group lowered their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. BTIG Research boosted their price objective on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, Monness Crespi & Hardt raised their target price on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $302.57.

Insider Activity at American Express

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

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.