Proathlete Wealth Management LLC Increases Position in American Express (NYSE:AXP)

Proathlete Wealth Management LLC boosted its holdings in American Express (NYSE:AXP) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,374 shares of the payment services company’s stock after purchasing an additional 55 shares during the quarter. American Express comprises 0.5% of Proathlete Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Proathlete Wealth Management LLC’s holdings in American Express were worth $1,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. World Investment Advisors LLC lifted its stake in shares of American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after buying an additional 3,867 shares in the last quarter. XML Financial LLC raised its position in American Express by 9.8% in the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after acquiring an additional 101 shares during the period. LVM Capital Management Ltd. MI raised its position in American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after acquiring an additional 2,557 shares during the period. Nordea Investment Management AB raised its position in 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 acquiring an additional 247,864 shares during the period. Finally, Founders Grove Wealth Partners LLC bought a new position in American Express in the fourth quarter worth approximately $298,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 1.6 %

NYSE AXP opened at $316.23 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a fifty day moving average of $302.35 and a two-hundred day moving average of $275.17. The firm has a market capitalization of $222.77 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.51 and a beta of 1.23. American Express has a 52 week low of $199.07 and a 52 week high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings data 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 net margin of 15.32% and a return on equity of 32.46%. On average, analysts predict that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AXP shares. The Goldman Sachs Group increased their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. StockNews.com cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. BTIG Research increased their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday. Finally, UBS Group raised their target price on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $291.50.

Insider Activity

In related news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

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.