Weik Capital Management Lowers Holdings in American Express (NYSE:AXP)

Weik Capital Management cut its stake in shares of American Express (NYSE:AXP) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,763 shares of the payment services company’s stock after selling 100 shares during the period. Weik Capital Management’s holdings in American Express were worth $1,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Townsquare Capital LLC raised its position in American Express by 78.1% in the 3rd quarter. Townsquare Capital LLC now owns 40,522 shares of the payment services company’s stock valued at $10,990,000 after purchasing an additional 17,769 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of American Express by 1,176.0% during the 3rd quarter. Bridgewater Associates LP now owns 56,476 shares of the payment services company’s stock worth $15,316,000 after purchasing an additional 52,050 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of American Express during the third quarter worth $621,000. BNP Paribas increased its holdings in American Express by 25.2% in the third quarter. BNP Paribas now owns 323 shares of the payment services company’s stock valued at $88,000 after buying an additional 65 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in American Express by 0.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 320,188 shares of the payment services company’s stock valued at $86,835,000 after buying an additional 2,852 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP stock opened at $272.15 on Friday. The stock’s 50 day simple moving average is $295.97 and its 200 day simple moving average is $289.03. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The firm has a market cap of $191.19 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released 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 net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Analyst Ratings Changes

Several research firms have recently weighed in on AXP. Citigroup reduced their target price on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday. Bank of America reduced their target price on shares of American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group decreased their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada raised 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. Finally, StockNews.com cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $302.57.

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now directly owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. 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 the company’s stock in a transaction dated 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 transaction, the insider now 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 currently owned by insiders.

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.