Catalyst Funds Management Pty Ltd Has $890,000 Holdings in American Express (NYSE:AXP)

Catalyst Funds Management Pty Ltd cut its stake in American Express (NYSE:AXP) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the payment services company’s stock after selling 3,800 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in American Express were worth $890,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AXP. Prospera Private Wealth LLC acquired a new position in shares of American Express in the 3rd quarter worth approximately $27,000. True Wealth Design LLC increased its holdings in 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. Itau Unibanco Holding S.A. acquired a new stake in American Express during the 3rd quarter valued at $38,000. Financial Life Planners acquired a new stake in American Express during the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC acquired a new stake in American Express during the 4th quarter valued at $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

AXP opened at $266.04 on Friday. The business’s 50-day moving average price is $301.59 and its two-hundred day moving average price is $287.97. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The company has a market capitalization of $186.90 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating 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 analysts expect that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Analysts Set New Price Targets

AXP has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Wells Fargo & Company raised their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Compass Point decreased their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research report on Friday. Finally, BTIG Research increased their price objective on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $299.24.

Insider Activity at American Express

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was 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 of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the 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 transaction, the director now owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

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.