Baxter Bros Inc. Has $23.64 Million Position in American Express (NYSE:AXP)

Baxter Bros Inc. reduced its position in American Express (NYSE:AXP) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 79,646 shares of the payment services company’s stock after selling 181 shares during the period. American Express accounts for approximately 3.1% of Baxter Bros Inc.’s portfolio, making the stock its 9th largest holding. Baxter Bros Inc.’s holdings in American Express were worth $23,638,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC raised its holdings in American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the period. Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter valued at $37,000. Financial Life Planners purchased a new stake in American Express during the 4th quarter worth about $38,000. Sierra Ocean LLC bought a new position in American Express in the 4th quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in American Express during the 3rd quarter valued at about $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 2.8 %

AXP opened at $277.98 on Tuesday. The company has a fifty day moving average of $297.92 and a two-hundred day moving average of $288.99. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The stock has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.18%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Royal Bank of Canada upped their target price on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, UBS Group upped their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $302.57.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

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.