Western Wealth Management LLC Has $1.55 Million Stock Holdings in American Express (NYSE:AXP)

Western Wealth Management LLC cut its stake in American Express (NYSE:AXP) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,258 shares of the payment services company’s stock after selling 180 shares during the period. Western Wealth Management LLC’s holdings in American Express were worth $1,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Moneta Group Investment Advisors LLC raised its holdings in shares of American Express by 118,198.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock worth $2,028,913,000 after buying an additional 13,720,460 shares in the last quarter. Norges Bank acquired a new position in shares of American Express during the 4th quarter worth $911,554,000. Boston Partners acquired a new position in shares of American Express during the 3rd quarter worth $210,540,000. Alliancebernstein L.P. raised its holdings in shares of American Express by 162.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,961,999 shares of the payment services company’s stock worth $289,885,000 after buying an additional 1,214,731 shares in the last quarter. Finally, CI Private Wealth LLC acquired a new position in shares of American Express during the 4th quarter worth $124,325,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now owns 12,388 shares in the company, valued at approximately $2,522,816.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Monique Herena sold 11,242 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now directly owns 12,388 shares in the company, valued at $2,522,816.20. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock worth $36,528,388 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Up 6.2 %

Shares of American Express stock opened at $231.05 on Friday. American Express has a one year low of $140.91 and a one year high of $231.69. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50-day moving average is $220.06 and its 200 day moving average is $188.35. The firm has a market cap of $167.25 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.25 and a beta of 1.23.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.01 by $0.32. American Express had a return on equity of 30.99% and a net margin of 13.84%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. During the same quarter in the prior year, the company earned $2.40 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 12.83 EPS for the current year.

American Express Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. American Express’s payout ratio is 24.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on American Express from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on American Express in a report on Wednesday, January 10th. They issued a “buy” rating and a $235.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating on shares of American Express in a report on Friday, April 5th. Finally, Morgan Stanley cut American Express from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $212.00 to $222.00 in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.62.

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.