Knuff & Co LLC Boosts Stock Position in American Express (NYSE:AXP)

Knuff & Co LLC grew its position in shares of American Express (NYSE:AXP) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,817 shares of the payment services company’s stock after purchasing an additional 167 shares during the quarter. American Express makes up about 0.9% of Knuff & Co LLC’s holdings, making the stock its 26th largest position. Knuff & Co LLC’s holdings in American Express were worth $2,914,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in American Express in the third quarter valued at about $27,000. Kennebec Savings Bank acquired a new position in shares of American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares in the last quarter. Financial Life Planners acquired a new position in shares of American Express during the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC acquired a new position in American Express in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP opened at $255.38 on Wednesday. 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 capitalization of $179.41 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21. The firm’s fifty day moving average price is $303.89 and its two-hundred day moving average price is $288.29. American Express has a 1 year low of $214.51 and a 1 year high of $326.27.

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 the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.28%. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insider Buying and Selling

In other news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ? increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXP. HSBC boosted their target price on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Morgan Stanley increased their price objective on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, January 27th. Monness Crespi & Hardt raised their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada raised 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. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $296.38.

About American Express

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.