American Express (NYSE:AXP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in American Express (NYSE:AXPFree Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,799 shares of the payment services company’s stock after selling 1,110 shares during the period. Hartford Investment Management Co.’s holdings in American Express were worth $7,269,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AXP. Trust Point Inc. bought a new position in American Express during the fourth quarter worth $1,102,000. Heartland Bank & Trust Co bought a new position in American Express during the 4th quarter worth $247,000. StrategIQ Financial Group LLC increased its position in American Express by 9.5% in the fourth quarter. StrategIQ Financial Group LLC now owns 2,361 shares of the payment services company’s stock worth $442,000 after buying an additional 205 shares during the period. Levy Wealth Management Group LLC bought a new stake in American Express in the fourth quarter valued at $207,000. Finally, Bridges Investment Management Inc. acquired a new position in shares of American Express during the fourth quarter valued at $234,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Express news, insider Monique Herena sold 11,242 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. Insiders have sold 172,047 shares of company stock worth $36,528,388 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP traded up $1.13 during midday trading on Wednesday, reaching $226.66. The company had a trading volume of 689,618 shares, compared to its average volume of 3,078,191. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. The stock has a market cap of $164.07 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.28 and a beta of 1.23. The company’s 50 day moving average price is $215.35 and its 200 day moving average price is $182.67. American Express has a 52-week low of $140.91 and a 52-week high of $231.69.

American Express (NYSE:AXPGet Free Report) last released its quarterly earnings data on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). American Express had a net margin of 13.84% and a return on equity of 30.99%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Express will post 12.83 EPS for the current fiscal year.

American Express Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.18%. American Express’s dividend payout ratio is presently 21.41%.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on American Express from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Royal Bank of Canada upped their price target on shares of American Express from $220.00 to $226.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Finally, Robert W. Baird downgraded American Express from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $193.68.

Check Out Our Latest Research Report on AXP

American Express Company Profile

(Free Report)

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.

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

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