American Express (NYSE:AXP) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its stake in American Express (NYSE:AXP) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,777 shares of the payment services company’s stock after selling 3,050 shares during the period. Hodges Capital Management Inc.’s holdings in American Express were worth $4,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AXP. Scarborough Advisors LLC acquired a new position in American Express during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in American Express during the fourth quarter worth $28,000. Tennessee Valley Asset Management Partners purchased a new position in American Express in the fourth quarter worth $28,000. Pacifica Partners Inc. acquired a new stake in American Express in the fourth quarter valued at $29,000. Finally, Baldwin Brothers LLC MA boosted its position in shares of American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 1.4 %

Shares of NYSE:AXP opened at $231.55 on Friday. The company has a 50 day moving average of $234.69 and a two-hundred day moving average of $216.11. American Express has a 52-week low of $140.91 and a 52-week high of $244.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $166.55 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22.

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

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, July 5th. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is 23.06%.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were 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 approximately $25,642,315.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares in the company, valued at $3,957,361.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock worth $41,680,999 in the last ninety days. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating on shares of American Express in a report on Friday, April 5th. Morgan Stanley raised their price objective on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Wells Fargo & Company upped their target price on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Robert W. Baird upped their price target on shares of American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Finally, Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.