Nixon Peabody Trust Co. Takes Position in American Express (NYSE:AXP)

Nixon Peabody Trust Co. acquired a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,325 shares of the payment services company’s stock, valued at approximately $1,372,000.

Several other large investors have also bought and sold shares of the business. Venture Visionary Partners LLC raised its position in American Express by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock worth $4,349,000 after purchasing an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after acquiring an additional 609 shares during the last quarter. Cerity Partners LLC increased its position in American Express by 417.3% during the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after purchasing an additional 335,338 shares during the period. Cullen Investment Group LTD. bought a new position in American Express during the 4th quarter worth approximately $2,460,000. Finally, J.W. Cole Advisors Inc. lifted its position in shares of American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock worth $1,837,000 after purchasing an additional 2,572 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

American Express stock traded up $2.71 during mid-day trading on Friday, hitting $238.17. The company had a trading volume of 1,624,182 shares, compared to its average volume of 3,083,569. The company has a market capitalization of $171.32 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.37 and a beta of 1.20. American Express has a 12-month low of $140.91 and a 12-month high of $244.41. The company’s fifty day moving average is $230.10 and its 200-day moving average is $203.33. 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 (NYSE:AXP) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping 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 company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. During the same period in the previous year, the business earned $2.40 EPS. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.18%. American Express’s payout ratio is presently 23.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AXP shares. Wells Fargo & Company lifted their price objective on American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. BMO Capital Markets increased their price target on American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Friday, April 26th. Barclays reissued an “equal weight” rating and set a $221.00 target price (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Express from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $210.71.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Anna Marrs sold 3,592 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the sale, the insider now directly owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction that occurred on 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 transaction, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by company insiders.

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.