Virtus ETF Advisers LLC Purchases 643 Shares of American Express (NYSE:AXP)

Virtus ETF Advisers LLC grew its position in American Express (NYSE:AXP) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,244 shares of the payment services company’s stock after purchasing an additional 643 shares during the quarter. Virtus ETF Advisers LLC’s holdings in American Express were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in American Express in the 4th quarter worth approximately $1,785,867,000. Capital Research Global Investors lifted its holdings in shares of American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after buying an additional 1,943,463 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of American Express by 346.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after acquiring an additional 1,568,747 shares during the last quarter. Proficio Capital Partners LLC grew its stake in American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after acquiring an additional 1,009,042 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in American Express in the 4th quarter valued at $292,081,000. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Monness Crespi & Hardt boosted their price target on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Citigroup reduced 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. Finally, Evercore ISI increased their price target 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $295.05.

American Express Trading Down 0.9 %

NYSE AXP opened at $264.79 on Friday. The stock has a market cap of $185.51 billion, a PE ratio of 18.90, a PEG ratio of 1.41 and a beta of 1.16. American Express has a 12 month low of $220.43 and a 12 month high of $326.28. The company’s 50-day moving average price is $267.65 and its 200-day moving average price is $287.11. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the prior year, the firm earned $3.33 EPS. Equities research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is currently 22.91%.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

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.