Navellier & Associates Inc. Boosts Stock Position in American Express (NYSE:AXP)

Navellier & Associates Inc. grew its stake in shares of American Express (NYSE:AXP) by 75.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,326 shares of the payment services company’s stock after acquiring an additional 1,426 shares during the period. Navellier & Associates Inc.’s holdings in American Express were worth $987,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of American Express by 0.8% in the third quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after purchasing an additional 86,100 shares during the period. FMR LLC increased its holdings in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after purchasing an additional 239,173 shares during the period. Janus Henderson Group PLC increased its holdings in shares of American Express by 0.8% in the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after purchasing an additional 33,193 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of American Express by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after purchasing an additional 247,864 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 2.8 %

Shares of NYSE:AXP opened at $295.23 on Friday. The stock’s 50-day moving average price is $307.54 and its 200-day moving average price is $284.65. American Express has a 12-month low of $212.48 and a 12-month high of $326.27. The stock has a market capitalization of $207.41 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.70 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.95%. American Express’s dividend payout ratio is currently 19.99%.

Insider Transactions at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $3,027,327.45. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,664 shares of company stock worth $9,613,503. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AXP shares. Compass Point decreased their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Morgan Stanley upped their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. BTIG Research increased their target price on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $296.38.

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.