American Express (NYSE:AXP) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC lifted its stake in shares of American Express (NYSE:AXP) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,049 shares of the payment services company’s stock after buying an additional 89 shares during the quarter. Gallacher Capital Management LLC’s holdings in American Express were worth $311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in American Express in the fourth quarter valued at approximately $832,000. World Investment Advisors LLC boosted its holdings in 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 valued at $1,292,000 after purchasing an additional 3,867 shares in the last quarter. Keybank National Association OH boosted its holdings in American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares in the last quarter. LVM Capital Management Ltd. MI boosted its holdings 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 valued at $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC boosted its holdings in American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after purchasing an additional 1,113 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 3.7 %

Shares of AXP stock opened at $266.04 on Monday. The business’s fifty day moving average price is $301.59 and its 200 day moving average price is $288.41. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. The firm has a market capitalization of $186.90 billion, a PE 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 posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. As a group, sell-side analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.23%. American Express’s dividend payout ratio is 23.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AXP shares. Morgan Stanley upped 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. Royal Bank of Canada boosted their price objective on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, 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 note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $299.24.

Insider Activity at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase 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.