American Express (AXP) Stake Lowered by Sigma Investment Counselors Inc.

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Sigma Investment Counselors Inc. decreased its stake in shares of American Express (NYSE:AXP) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,455 shares of the payment services company’s stock after selling 250 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in American Express were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Point Wealth Management purchased a new position in American Express during the 4th quarter worth $201,000. Wisconsin Capital Management LLC purchased a new position in American Express during the 4th quarter worth $3,241,000. CI Investments Inc. boosted its holdings in American Express by 17.8% during the 4th quarter. CI Investments Inc. now owns 499,737 shares of the payment services company’s stock worth $47,635,000 after acquiring an additional 75,400 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in American Express by 33.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 516,907 shares of the payment services company’s stock worth $49,268,000 after acquiring an additional 129,701 shares during the last quarter. Finally, Abner Herrman & Brock LLC boosted its holdings in American Express by 3.0% during the 4th quarter. Abner Herrman & Brock LLC now owns 160,531 shares of the payment services company’s stock worth $15,302,000 after acquiring an additional 4,634 shares during the last quarter. 84.95% of the stock is owned by institutional investors and hedge funds.

AXP stock opened at $117.25 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.63. The stock has a market cap of $97.90 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.35 and a beta of 1.13. American Express has a twelve month low of $89.05 and a twelve month high of $117.99.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.01. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. Sell-side analysts expect that American Express will post 8.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is 21.28%.

In other news, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the transaction, the insider now owns 69,941 shares of the company’s stock, valued at $7,969,077.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Petrino sold 2,444 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $107.11, for a total value of $261,776.84. Following the transaction, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on AXP shares. Morgan Stanley cut their price objective on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Wells Fargo & Co cut their price objective on shares of American Express from $122.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, January 3rd. Credit Suisse Group reaffirmed a “hold” rating and set a $93.00 price objective on shares of American Express in a report on Friday, January 18th. Atlantic Securities raised shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective on the stock in a report on Tuesday, January 29th. Finally, Bank of America set a $108.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $114.43.

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American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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