Sunbelt Securities Inc. Has $442,000 Position in American Express (NYSE:AXP)

Sunbelt Securities Inc. raised its position in American Express (NYSE:AXP) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943 shares of the payment services company’s stock after buying an additional 527 shares during the quarter. Sunbelt Securities Inc.’s holdings in American Express were worth $442,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. grew its position in shares of American Express by 32.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,889 shares of the payment services company’s stock worth $431,000 after purchasing an additional 711 shares in the last quarter. Operose Advisors LLC bought a new position in American Express during the 3rd quarter worth $41,000. O Shaughnessy Asset Management LLC raised its holdings in American Express by 10.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,581 shares of the payment services company’s stock valued at $5,607,000 after acquiring an additional 3,592 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of American Express by 8.7% during the 3rd quarter. Mutual Advisors LLC now owns 6,967 shares of the payment services company’s stock valued at $1,039,000 after acquiring an additional 558 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of American Express during the 3rd quarter worth $233,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.0 %

Shares of AXP opened at $230.68 on Thursday. The company has a market capitalization of $165.93 billion, a PE ratio of 19.00, a PEG ratio of 1.31 and a beta of 1.22. The stock’s 50-day moving average price is $234.20 and its two-hundred day moving average price is $215.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 12 month low of $140.91 and a 12 month high of $244.41.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that American Express will post 13 EPS for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $0.70 dividend. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, July 5th. American Express’s payout ratio is presently 23.06%.

Insider Buying and Selling at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the completion of the sale, the insider now owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,717 shares of company stock valued at $41,680,999. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Barclays reissued an “equal weight” rating and issued a $221.00 price objective (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Citigroup assumed coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Finally, BTIG Research started coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $220.30.

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.