Orion Portfolio Solutions LLC Reduces Stock Position in American Express (NYSE:AXP)

Orion Portfolio Solutions LLC lowered its stake in shares of American Express (NYSE:AXP) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,517 shares of the payment services company’s stock after selling 10,796 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in American Express were worth $20,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC lifted its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares during the last quarter. Catalina Capital Group LLC lifted its stake in American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after buying an additional 34 shares during the last quarter. Boston Financial Mangement LLC boosted its holdings in shares of American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after acquiring an additional 34 shares during the period. Auxier Asset Management increased its holdings in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the period. Finally, Abel Hall LLC raised its position in American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $272.15 on Friday. American Express has a one year low of $214.51 and a one year high of $326.28. The business’s 50-day moving average price is $295.97 and its two-hundred day moving average price is $289.03. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a market capitalization of $191.19 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

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

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday. Bank of America reduced their price objective on American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Argus cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. UBS Group boosted their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, HSBC raised their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $302.57.

American Express Company 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.