IFP Advisors Inc Reduces Stake in American Express (NYSE:AXP)

IFP Advisors Inc lessened its stake in shares of American Express (NYSE:AXP) by 39.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,836 shares of the payment services company’s stock after selling 3,156 shares during the quarter. IFP Advisors Inc’s holdings in American Express were worth $1,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in American Express during the third quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC grew its position in shares of 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 purchasing an additional 83 shares in the last quarter. Financial Life Planners bought a new position in shares of American Express in the fourth quarter worth $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $295.86 on Thursday. 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 $326.27. The business has a 50 day moving average price of $307.37 and a 200-day moving average price of $285.93. The firm has a market cap of $207.85 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) 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%. Equities research analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Insiders Place Their Bets

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of several recent analyst reports. Monness Crespi & Hardt boosted their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Compass Point cut their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Citigroup lifted their target price on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods increased their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada raised their price objective on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $296.38.

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.