Princeton Global Asset Management LLC Sells 281 Shares of American Express (NYSE:AXP)

Princeton Global Asset Management LLC cut its stake in American Express (NYSE:AXP) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,269 shares of the payment services company’s stock after selling 281 shares during the quarter. Princeton Global Asset Management LLC’s holdings in American Express were worth $673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Chicago Capital LLC lifted its holdings in shares of American Express by 4.0% in the 4th quarter. Chicago Capital LLC now owns 13,368 shares of the payment services company’s stock worth $3,967,000 after acquiring an additional 513 shares during the last quarter. Magnolia Capital Advisors LLC boosted its position in shares of American Express by 20.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 903 shares of the payment services company’s stock valued at $268,000 after buying an additional 152 shares during the period. FSM Wealth Advisors LLC bought a new position in shares of American Express during the fourth quarter valued at approximately $215,000. Willis Investment Counsel raised its holdings in shares of American Express by 2.6% in the fourth quarter. Willis Investment Counsel now owns 53,983 shares of the payment services company’s stock worth $16,022,000 after buying an additional 1,361 shares during the period. Finally, Horst & Graben Wealth Management LLC purchased a new position in American Express during the 4th quarter valued at $214,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In related news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $317.12 on Monday. American Express has a 52-week low of $199.88 and a 52-week high of $326.27. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The stock has a market cap of $223.40 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The business has a 50-day simple moving average of $304.98 and a 200-day simple moving average of $277.54.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, equities analysts expect that American Express will post 15.3 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, January 3rd. American Express’s payout ratio is presently 19.99%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Compass Point decreased their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Citigroup upped their price objective on shares of American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $296.38.

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.