Seven Mile Advisory Has $666,000 Stock Position in American Express (NYSE:AXP)

Seven Mile Advisory raised its position in shares of American Express (NYSE:AXP) by 19.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,243 shares of the payment services company’s stock after purchasing an additional 359 shares during the quarter. Seven Mile Advisory’s holdings in American Express were worth $666,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AXP. True Wealth Design LLC raised its stake in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the last quarter. Sellwood Investment Partners LLC bought a new position in shares of American Express in the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of American Express in the 4th quarter valued at about $33,000. Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter valued at about $37,000. Finally, Financial Life Planners acquired a new stake in American Express during the fourth quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BTIG Research raised their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. UBS Group raised their price target on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Citigroup dropped their price objective 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. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Wells Fargo & Company upped their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $302.57.

Insider Activity at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

American Express Trading Down 2.5 %

Shares of AXP stock opened at $265.16 on Monday. 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 $186.28 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.41 and a beta of 1.21. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The company has a 50-day simple moving average of $295.02 and a two-hundred day simple moving average of $289.68.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 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%. Research analysts anticipate that American Express will post 15.33 EPS 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. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This is an increase 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 23.41%.

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.