Mystic Asset Management Inc. Increases Holdings in American Express (NYSE:AXP)

Mystic Asset Management Inc. boosted its holdings in shares of American Express (NYSE:AXP) by 69.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,632 shares of the payment services company’s stock after buying an additional 1,489 shares during the period. Mystic Asset Management Inc.’s holdings in American Express were worth $1,078,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AXP. GSA Capital Partners LLP boosted its stake in American Express by 4.2% during the third quarter. GSA Capital Partners LLP now owns 2,655 shares of the payment services company’s stock valued at $720,000 after buying an additional 108 shares during the period. Empowered Funds LLC boosted its stake in American Express by 2.0% during the third quarter. Empowered Funds LLC now owns 14,291 shares of the payment services company’s stock valued at $3,876,000 after buying an additional 281 shares during the period. Claro Advisors LLC boosted its stake in American Express by 8.1% during the third quarter. Claro Advisors LLC now owns 2,209 shares of the payment services company’s stock valued at $599,000 after buying an additional 165 shares during the period. Aljian Capital Management LLC bought a new stake in American Express during the third quarter valued at $884,000. Finally, Aviso Wealth Management bought a new stake in American Express during the third quarter worth about $595,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Down 0.5 %

AXP stock opened at $264.36 on Tuesday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The business’s 50 day moving average price is $300.85 and its two-hundred day moving average price is $288.45. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a market capitalization of $185.72 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping 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%. As a group, analysts forecast 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 given a $0.82 dividend. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is currently 23.41%.

Insider Transactions at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. Evercore ISI lifted their price target on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research note on Monday, January 27th. Morgan Stanley lifted their price target on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. HSBC lifted their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $299.24.

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.