American Express (NYSE:AXP) Stake Raised by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its holdings in American Express (NYSE:AXP) by 46.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,121 shares of the payment services company’s stock after acquiring an additional 13,640 shares during the period. American Express comprises 1.7% of Abacus FCF Advisors LLC’s holdings, making the stock its 9th biggest position. Abacus FCF Advisors LLC’s holdings in American Express were worth $12,798,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of American Express during the 4th quarter worth about $1,785,867,000. Proficio Capital Partners LLC lifted its stake in American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after purchasing an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Express in the 4th quarter worth $292,081,000. Capital Wealth Planning LLC boosted its holdings in American Express by 22.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company’s stock valued at $450,429,000 after purchasing an additional 273,813 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in American Express by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Evercore ISI upped their target price on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. UBS Group increased their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Bank of America cut their price target on American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $302.24.

Insider Activity at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’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 sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

American Express Price Performance

American Express stock opened at $233.85 on Tuesday. The firm has a market capitalization of $164.29 billion, a PE ratio of 16.69, a P/E/G ratio of 1.41 and a beta of 1.16. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. The firm’s 50-day simple moving average is $287.32 and its 200 day simple moving average is $289.39. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last posted its 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 research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

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.