DCM Advisors LLC Sells 2,538 Shares of American Express (NYSE:AXP)

DCM Advisors LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,710 shares of the payment services company’s stock after selling 2,538 shares during the period. American Express comprises 3.3% of DCM Advisors LLC’s investment portfolio, making the stock its 10th largest position. DCM Advisors LLC’s holdings in American Express were worth $7,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of American Express during the fourth quarter worth $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express in the first quarter worth $433,709,000. TD Asset Management Inc increased its stake in shares of American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of American Express by 1,313.2% in the fourth quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after buying an additional 714,370 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after buying an additional 667,695 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

AXP stock traded up $0.56 during trading on Wednesday, hitting $253.04. The company had a trading volume of 2,167,098 shares, compared to its average volume of 3,000,542. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $256.24. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $179.89 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.38 and a beta of 1.21. The business has a 50 day moving average of $236.75 and a 200 day moving average of $225.33.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the company earned $2.89 EPS. American Express’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that American Express will post 13.24 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.11%. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AXP. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. BMO Capital Markets boosted their target price on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. Barclays boosted their target price on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $230.70.

Insider Buying and Selling at American Express

In other American Express news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were 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 approximately $4,602,896.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Express news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. In the last three months, insiders sold 138,844 shares of company stock valued at $32,404,735. 0.12% of the stock is owned by insiders.

American Express 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.