ZEGA Investments LLC Takes Position in American Express (NYSE:AXP)

ZEGA Investments LLC bought a new position in shares of American Express (NYSE:AXP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 928 shares of the payment services company’s stock, valued at approximately $298,000.

Several other large investors also recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new position in American Express in the 3rd quarter worth $27,000. Landscape Capital Management L.L.C. acquired a new stake in American Express in the 3rd quarter valued at approximately $1,175,000. Cypress Capital Group lifted its stake in American Express by 2.0% in the 3rd quarter. Cypress Capital Group now owns 2,247 shares of the payment services company’s stock valued at $609,000 after acquiring an additional 45 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in American Express by 9.4% during the 3rd quarter. Integrated Investment Consultants LLC now owns 1,922 shares of the payment services company’s stock worth $521,000 after acquiring an additional 165 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of American Express by 2.7% during the 3rd quarter. Pacer Advisors Inc. now owns 41,652 shares of the payment services company’s stock worth $11,296,000 after acquiring an additional 1,098 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Price Performance

American Express stock opened at $270.48 on Friday. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The stock’s 50 day moving average price is $298.30 and its two-hundred day moving average price is $288.31. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market capitalization of $190.02 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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%. On average, equities analysts predict that American Express will post 15.33 earnings per share for the current 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 paid a $0.82 dividend. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is currently 23.41%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AXP shares. The Goldman Sachs Group lowered their price target 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. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Citigroup increased their price objective on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. UBS Group boosted their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $303.52.

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.