Magnus Financial Group LLC Sells 149 Shares of American Express (NYSE:AXP)

Magnus Financial Group LLC cut its position in American Express (NYSE:AXP) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,398 shares of the payment services company’s stock after selling 149 shares during the quarter. Magnus Financial Group LLC’s holdings in American Express were worth $1,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT raised its stake in shares of American Express by 86.4% during the fourth quarter. Albion Financial Group UT now owns 192 shares of the payment services company’s stock valued at $57,000 after acquiring an additional 89 shares during the last quarter. Advisory Alpha LLC raised its position in American Express by 51.0% during the 4th quarter. Advisory Alpha LLC now owns 1,607 shares of the payment services company’s stock worth $477,000 after purchasing an additional 543 shares during the last quarter. West Branch Capital LLC lifted its holdings in American Express by 96.8% during the 4th quarter. West Branch Capital LLC now owns 1,746 shares of the payment services company’s stock worth $518,000 after buying an additional 859 shares during the period. Missouri Trust & Investment Co grew its position in shares of American Express by 5.2% in the 4th quarter. Missouri Trust & Investment Co now owns 1,860 shares of the payment services company’s stock valued at $552,000 after buying an additional 92 shares during the last quarter. Finally, XML Financial LLC increased its stake in shares of American Express by 55.1% in the fourth quarter. XML Financial LLC now owns 1,748 shares of the payment services company’s stock valued at $519,000 after buying an additional 621 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

American Express Price Performance

American Express stock opened at $318.64 on Wednesday. American Express has a 52 week low of $184.81 and a 52 week high of $319.70. The company’s 50 day moving average price is $300.24 and its two-hundred day moving average price is $273.36. The stock has a market cap of $224.47 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.88%. American Express’s dividend payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

Several analysts recently commented on AXP shares. Monness Crespi & Hardt upped their target price on American Express from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Morgan Stanley lifted their price objective 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. Finally, Compass Point boosted their price objective on American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $278.09.

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.