Balefire LLC Increases Stock Position in American Express Company (NYSE:AXP)

Balefire LLC boosted its position in shares of American Express Company (NYSE:AXP) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,112 shares of the payment services company’s stock after purchasing an additional 170 shares during the period. Balefire LLC’s holdings in American Express were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Investment Management Corp VA ADV bought a new position in shares of American Express during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express during the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the 4th quarter worth approximately $33,000. Nexus Investment Management ULC bought a new position in American Express during the 1st quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $308.73 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $286.36 and its 200-day moving average is $288.84. The stock has a market cap of $216.29 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. American Express Company has a twelve month low of $220.43 and a twelve month high of $326.28.

American Express (NYSE:AXP) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The firm had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the firm posted $3.33 EPS. On average, analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, July 3rd. American Express’s dividend payout ratio (DPR) is presently 22.91%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. Royal Bank Of Canada reissued an “outperform” rating and set a $310.00 price target on shares of American Express in a research report on Monday, April 21st. The Goldman Sachs Group lowered their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Citigroup dropped their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. raised their price target on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $296.05.

Insider Buying and Selling

In related news, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.