Glenview Trust co Lowers Position in American Express (NYSE:AXP)

Glenview Trust co decreased its holdings in shares of American Express (NYSE:AXP) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,305 shares of the payment services company’s stock after selling 825 shares during the quarter. Glenview Trust co’s holdings in American Express were worth $5,136,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of American Express during the 3rd quarter valued at about $27,000. True Wealth Design LLC grew its position in American Express by 332.0% during the third 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 last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of American Express during the third quarter worth approximately $38,000. Financial Life Planners bought a new stake in shares of American Express in the 4th quarter worth approximately $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express in the 4th quarter valued at $40,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of AXP opened at $266.04 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market cap of $186.90 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.21. The business’s 50 day moving average price is $301.59 and its 200-day moving average price is $288.41. American Express has a 52 week low of $214.51 and a 52 week high of $326.27.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal 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 paid a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Royal Bank of Canada boosted their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. BTIG Research raised their price target on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Evercore ISI boosted their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their target price 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. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $299.24.

Insiders Place Their Bets

In other news, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on 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 sale, the insider now owns 23,866 shares in the company, 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. Corporate insiders own 0.12% of the company’s stock.

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.