KMG Fiduciary Partners LLC Has $9.54 Million Position in American Express (NYSE:AXP)

KMG Fiduciary Partners LLC trimmed its position in shares of American Express (NYSE:AXP) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,127 shares of the payment services company’s stock after selling 621 shares during the period. American Express makes up approximately 0.8% of KMG Fiduciary Partners LLC’s portfolio, making the stock its 28th biggest holding. KMG Fiduciary Partners LLC’s holdings in American Express were worth $9,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in American Express by 26,783.5% during the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after purchasing an additional 906,353 shares during the last quarter. FMR LLC increased its stake 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 valued at $2,984,208,000 after buying an additional 866,110 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after acquiring an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of American Express by 59,816.0% during the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after acquiring an additional 681,304 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after acquiring an additional 486,755 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,998 shares of company stock worth $26,423,439. Company insiders own 0.11% of the company’s stock.

American Express Stock Performance

AXP stock opened at $311.69 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1 year low of $177.81 and a 1 year high of $314.00. The company has a market cap of $219.57 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The stock’s fifty day moving average price is $298.26 and its 200-day moving average price is $270.90.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that American Express will post 13.48 earnings per share for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Monness Crespi & Hardt lifted their target price on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Compass Point upped their price target on shares of American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and boosted their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $278.09.

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.