IPG Investment Advisors LLC Reduces Position in American Express (NYSE:AXP)

IPG Investment Advisors LLC decreased its holdings in American Express (NYSE:AXP) by 87.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 930 shares of the payment services company’s stock after selling 6,478 shares during the quarter. IPG Investment Advisors LLC’s holdings in American Express were worth $276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. True Wealth Design LLC raised its holdings in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Sellwood Investment Partners LLC purchased a new stake in American Express during the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express during the 4th quarter valued at $33,000. Curio Wealth LLC purchased a new position in shares of American Express in the 4th quarter worth $37,000. Finally, Financial Life Planners bought a new stake in shares of American Express in the fourth quarter worth $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $265.16 on Friday. The business’s 50 day moving average price is $295.02 and its 200-day moving average price is $289.43. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The company has a market cap of $186.28 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Sell-side analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.24%. American Express’s dividend payout ratio is currently 23.41%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. Compass Point lowered their target price on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. HSBC upped their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research report on Friday, March 14th. Finally, Citigroup decreased their target price on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $302.57.

Insider Transactions at American Express

In related news, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The shares were 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 $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.