Whittier Trust Co. of Nevada Inc. Cuts Stock Holdings in American Express (NYSE:AXP)

Whittier Trust Co. of Nevada Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,670 shares of the payment services company’s stock after selling 83 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in American Express were worth $11,180,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in American Express during the third quarter valued at about $27,000. True Wealth Design LLC boosted its holdings 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 during the period. Curio Wealth LLC purchased a new stake in shares of American Express during the fourth quarter worth about $37,000. Financial Life Planners purchased a new stake in shares of American Express during the fourth quarter worth about $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express during the fourth quarter worth about $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $270.80 on Friday. The company has a market capitalization of $190.24 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $298.77 and a 200 day moving average of $288.23. American Express has a twelve month low of $214.51 and a twelve month high of $326.28.

American Express (NYSE:AXP) last announced its quarterly 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 net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts anticipate that American Express will post 15.33 earnings per share 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. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Activity at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $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 owned by insiders.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of analyst reports. UBS Group increased their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Bank of America dropped their target price on shares of American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada increased their target price on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus 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.