Overbrook Management Corp Sells 357 Shares of American Express (NYSE:AXP)

Overbrook Management Corp trimmed its position in American Express (NYSE:AXP) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 23,437 shares of the payment services company’s stock after selling 357 shares during the quarter. American Express accounts for about 0.9% of Overbrook Management Corp’s holdings, making the stock its 25th largest holding. Overbrook Management Corp’s holdings in American Express were worth $4,391,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in American Express in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new position in American Express in the 4th quarter worth approximately $28,000. BluePath Capital Management LLC bought a new position in American Express in the 3rd quarter worth approximately $29,000. Pacifica Partners Inc. bought a new position in American Express in the 4th quarter worth approximately $29,000. Finally, Baldwin Brothers LLC MA boosted its holdings in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after buying an additional 89 shares during the period. 84.33% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 84,420 shares of American Express stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now directly owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,920 shares of company stock valued at $45,804,652. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of several analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $221.00 price objective (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. Royal Bank of Canada increased their target price on shares of American Express from $250.00 to $253.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on shares of American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. HSBC increased their target price on shares of American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Stephens upgraded shares of American Express from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $209.52.

American Express Price Performance

Shares of American Express stock opened at $235.60 on Friday. The firm has a market cap of $169.47 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. American Express has a 12-month low of $140.91 and a 12-month high of $240.55. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The company’s fifty day simple moving average is $222.57 and its two-hundred day simple moving average is $191.45.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 EPS. As a group, equities analysts expect that American Express will post 12.99 EPS for the current year.

American Express Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s payout ratio is 23.06%.

American Express Profile

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.