American Express (NYSE:AXP) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its holdings in American Express (NYSE:AXP) by 17.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,012 shares of the payment services company’s stock after selling 629 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in American Express were worth $686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIC Wealth LLC grew its holdings in shares of American Express by 3.2% during the 1st quarter. CIC Wealth LLC now owns 1,518 shares of the payment services company’s stock worth $346,000 after purchasing an additional 47 shares during the period. Aspiriant LLC lifted its position in American Express by 0.8% during the 1st quarter. Aspiriant LLC now owns 6,330 shares of the payment services company’s stock worth $1,441,000 after acquiring an additional 48 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in American Express by 3.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,490 shares of the payment services company’s stock worth $279,000 after acquiring an additional 49 shares in the last quarter. Level Four Advisory Services LLC lifted its position in American Express by 2.3% during the 4th quarter. Level Four Advisory Services LLC now owns 2,188 shares of the payment services company’s stock worth $410,000 after acquiring an additional 50 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $235.53 on Thursday. The company has a market cap of $169.42 billion, a P/E ratio of 19.40, a PEG ratio of 1.32 and a beta of 1.21. The stock has a fifty day moving average price of $234.65 and a 200 day moving average price of $217.18. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. American Express has a 12 month low of $140.91 and a 12 month high of $244.41.

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

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $0.70 per share. 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 1.19%. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several research firms recently commented on AXP. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target on the stock in a research report on Friday, April 5th. BMO Capital Markets upped their target price on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. TD Cowen upped their target price on American Express from $221.00 to $225.00 and gave the company a “hold” rating in a research report 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 research report on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $220.30.

Insider Buying and Selling

In other news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock worth $41,680,999 in the last three months. 0.11% of the stock is owned by insiders.

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.