Contravisory Investment Management Inc. Has $8.89 Million Position in American Express (NYSE:AXP)

Contravisory Investment Management Inc. trimmed its stake in shares of American Express (NYSE:AXP) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,960 shares of the payment services company’s stock after selling 72 shares during the quarter. American Express makes up about 1.9% of Contravisory Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Contravisory Investment Management Inc.’s holdings in American Express were worth $8,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXP. Auxier Asset Management lifted its stake in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the last quarter. Abel Hall LLC raised its position in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares during the last quarter. Sunflower Bank N.A. raised its position in American Express by 0.9% in the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock valued at $1,203,000 after purchasing an additional 35 shares during the last quarter. Sovereign Financial Group Inc. boosted its stake in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares in the last quarter. Finally, Legacy Financial Strategies LLC grew its holdings in shares of American Express by 2.5% during the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,998 shares of company stock valued at $26,423,439. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AXP shares. Barclays boosted their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group lifted their target price on 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 increased their price target on American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group raised their price objective on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $278.09.

View Our Latest Stock Report on American Express

American Express Trading Up 4.0 %

Shares of AXP stock opened at $312.51 on Thursday. American Express has a 52-week low of $177.81 and a 52-week high of $313.96. The company has a 50-day simple moving average of $297.91 and a two-hundred day simple moving average of $270.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $220.15 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.73 and a beta of 1.23.

American Express (NYSE:AXPGet Free Report) last issued its quarterly 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. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.30 earnings per share. Research analysts anticipate that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The firm 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 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is 20.60%.

About American Express

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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