Northwest & Ethical Investments L.P. Cuts Stock Position in American Express (NYSE:AXP)

Northwest & Ethical Investments L.P. lowered its stake in shares of American Express (NYSE:AXP) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,415 shares of the payment services company’s stock after selling 14,335 shares during the period. Northwest & Ethical Investments L.P.’s holdings in American Express were worth $8,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of American Express in the third quarter valued at approximately $27,000. True Wealth Design LLC increased its position in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Curio Wealth LLC acquired a new position in American Express in the 4th quarter valued at $37,000. Itau Unibanco Holding S.A. purchased a new position in American Express in the 3rd quarter valued at $38,000. Finally, Financial Life Planners acquired a new stake in American Express during the 4th quarter worth $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE AXP opened at $270.80 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a market cap of $190.24 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.41 and a beta of 1.21. The stock has a 50-day moving average of $298.77 and a two-hundred day moving average of $288.23. American Express has a 1-year low of $214.51 and a 1-year high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a $0.82 dividend. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insider Activity at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AXP shares. The Goldman Sachs Group reduced their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, January 27th. Citigroup boosted their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target for the company in a research report on Friday, March 14th. Finally, HSBC boosted their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $303.52.

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.