Blue Fin Capital Inc. Buys New Position in American Express (NYSE:AXP)

Blue Fin Capital Inc. bought a new stake in shares of American Express (NYSE:AXP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,637 shares of the payment services company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sage Rhino Capital LLC grew its position in American Express by 1.1% during the first quarter. Sage Rhino Capital LLC now owns 6,866 shares of the payment services company’s stock valued at $971,000 after buying an additional 72 shares during the period. Palisade Asset Management LLC raised its stake in shares of American Express by 0.8% in the first quarter. Palisade Asset Management LLC now owns 8,832 shares of the payment services company’s stock valued at $1,249,000 after acquiring an additional 73 shares during the period. Aries Wealth Management increased its stake in American Express by 2.2% in the 1st quarter. Aries Wealth Management now owns 3,511 shares of the payment services company’s stock worth $518,000 after buying an additional 74 shares during the period. Crestwood Advisors Group LLC increased its stake in American Express by 1.0% in the 1st quarter. Crestwood Advisors Group LLC now owns 7,373 shares of the payment services company’s stock worth $1,043,000 after buying an additional 76 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in American Express by 1.3% in the 1st quarter. Capital Investment Advisors LLC now owns 5,953 shares of the payment services company’s stock worth $842,000 after buying an additional 78 shares during the period. Institutional investors own 83.54% of the company’s stock.

NYSE:AXP opened at $157.15 on Monday. American Express has a 12-month low of $81.22 and a 12-month high of $160.69. The firm has a market capitalization of $126.24 billion, a P/E ratio of 39.00, a P/E/G ratio of 3.27 and a beta of 1.36. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day simple moving average of $149.12 and a 200 day simple moving average of $129.64.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $1.13. American Express had a return on equity of 21.31% and a net margin of 8.84%. The company had revenue of $9.06 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Research analysts anticipate that American Express will post 4.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 1st. This represents a $1.72 annualized dividend and a dividend yield of 1.09%. American Express’s dividend payout ratio (DPR) is presently 20.98%.

A number of analysts have recently weighed in on AXP shares. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 price target on the stock. in a report on Monday, February 22nd. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price target for the company. in a research report on Tuesday, February 16th. Credit Suisse Group reduced their price target on shares of American Express from $120.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, January 27th. JPMorgan Chase & Co. raised shares of American Express from an “underweight” rating to an “overweight” rating and set a $148.00 target price for the company in a report on Tuesday, January 19th. Finally, Wells Fargo & Company lifted their price target on shares of American Express from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.33.

In related news, insider Anre D. Williams sold 59,352 shares of the stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the sale, the insider now directly owns 85,522 shares in the company, valued at approximately $12,475,949.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas E. Buckminster sold 32,833 shares of the stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total value of $4,796,244.64. Following the completion of the transaction, the insider now owns 111,247 shares in the company, valued at $16,250,961.76. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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

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