Wellington Management Group LLP Sells 216,855 Shares of American Express (NYSE:AXP)

Wellington Management Group LLP decreased its position in shares of American Express (NYSE:AXP) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,857,117 shares of the payment services company’s stock after selling 216,855 shares during the quarter. American Express makes up 0.9% of Wellington Management Group LLP’s investment portfolio, making the stock its 15th largest position. Wellington Management Group LLP owned approximately 2.26% of American Express worth $4,706,234,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC boosted its position in American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC lifted its stake in shares of American Express by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after buying an additional 34 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares during the period. Abel Hall LLC raised its holdings in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after acquiring an additional 35 shares during the period. Finally, Sunflower Bank N.A. lifted its position in shares of American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $265.16 on Monday. The firm has a market cap of $186.28 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21. The firm’s fifty day moving average is $295.02 and its 200 day moving average is $289.68. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. 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 (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Research analysts predict that American Express will post 15.33 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, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 23.41%.

Insider Transactions at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AXP shares. Citigroup decreased their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company increased their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, UBS Group boosted their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $302.57.

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.