Latitude Advisors LLC Has $210,000 Stock Position in American Express Company (NYSE:AXP)

Latitude Advisors LLC cut its position in American Express Company (NYSE:AXP) by 11.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 779 shares of the payment services company’s stock after selling 102 shares during the quarter. Latitude Advisors LLC’s holdings in American Express were worth $210,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Navis Wealth Advisors LLC increased its holdings in shares of American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock valued at $955,000 after purchasing an additional 2,791 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in American Express by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company’s stock valued at $25,679,000 after buying an additional 7,822 shares during the last quarter. Berry Wealth Group LP bought a new position in American Express in the 1st quarter valued at $296,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after buying an additional 5,693 shares during the period. Finally, U S Global Investors Inc. raised its position in shares of American Express by 17.9% during the first quarter. U S Global Investors Inc. now owns 5,305 shares of the payment services company’s stock worth $1,427,000 after acquiring an additional 805 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

AXP opened at $328.36 on Friday. The stock has a market cap of $230.05 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.58 and a beta of 1.25. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a fifty day simple moving average of $294.35 and a 200 day simple moving average of $289.65.

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

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.00%. American Express’s dividend payout ratio (DPR) is currently 22.91%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company set a $327.00 price target on American Express in a report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, BTIG Research cut their price objective on shares of American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $295.25.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 9,402 shares of the company’s stock, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider owned 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This trade represents a 21.66% 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.