Financial Advocates Investment Management Sells 202 Shares of American Express (AXP)

Financial Advocates Investment Management lessened its stake in American Express (NYSE:AXP) by 5.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,529 shares of the payment services company’s stock after selling 202 shares during the period. Financial Advocates Investment Management’s holdings in American Express were worth $111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Oregon Public Employees Retirement Fund lifted its stake in shares of American Express by 9,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,340,593 shares of the payment services company’s stock valued at $77,000 after acquiring an additional 7,261,819 shares during the last quarter. Matthew Goff Investment Advisor LLC raised its position in American Express by 9,700.1% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,829,970 shares of the payment services company’s stock valued at $49,285,000 after purchasing an additional 4,780,685 shares during the last quarter. Morgan Stanley raised its position in American Express by 20.8% during the 3rd quarter. Morgan Stanley now owns 6,393,693 shares of the payment services company’s stock valued at $680,864,000 after purchasing an additional 1,098,834 shares during the last quarter. Samlyn Capital LLC raised its position in American Express by 327.7% during the 4th quarter. Samlyn Capital LLC now owns 1,286,390 shares of the payment services company’s stock valued at $122,619,000 after purchasing an additional 985,591 shares during the last quarter. Finally, Eaton Vance Management raised its position in American Express by 66.0% during the 3rd quarter. Eaton Vance Management now owns 2,205,890 shares of the payment services company’s stock valued at $234,906,000 after purchasing an additional 877,009 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Shares of NYSE:AXP opened at $109.46 on Friday. American Express has a 52-week low of $89.05 and a 52-week high of $114.55. The company has a market capitalization of $92.32 billion, a PE ratio of 14.93, a PEG ratio of 1.28 and a beta of 1.11. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.93 and a quick ratio of 1.93.



American Express (NYSE:AXP) last announced its earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.54 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Equities research analysts forecast that American Express will post 8.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio is currently 21.28%.

A number of research analysts have commented on the company. Wells Fargo & Co lowered their price target on American Express from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, January 3rd. Bank of America reaffirmed a “neutral” rating and set a $108.00 price target on shares of American Express in a research report on Thursday, March 14th. Buckingham Research lowered American Express from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a research report on Thursday, November 29th. They noted that the move was a valuation call. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Finally, Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price target for the company in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $111.66.

In other news, EVP Richard Petrino sold 2,444 shares of the stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the transaction, the executive vice president now owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $103.02, for a total value of $1,287,750.00. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This article was first published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://dakotafinancialnews.com/2019/03/24/financial-advocates-investment-management-sells-202-shares-of-american-express-axp.html.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Featured Story: Bull Market

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.