American Express (NYSE:AXP) Position Trimmed by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC trimmed its stake in American Express (NYSE:AXP) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,870 shares of the payment services company’s stock after selling 232 shares during the quarter. American Express accounts for 2.8% of Bouvel Investment Partners LLC’s portfolio, making the stock its 6th largest position. Bouvel Investment Partners LLC’s holdings in American Express were worth $6,573,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of American Express during the 4th quarter worth about $1,112,747,000. Artisan Partners Limited Partnership lifted its stake in American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after acquiring an additional 496,153 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of American Express by 62.1% during the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock valued at $449,521,000 after purchasing an additional 919,337 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of American Express by 7.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,067,858 shares of the payment services company’s stock valued at $387,392,000 after purchasing an additional 142,763 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 1.0 %

NYSE AXP traded down $2.27 during trading on Thursday, reaching $228.41. 2,264,206 shares of the stock traded hands, compared to its average volume of 3,050,857. The stock’s 50-day moving average price is $234.46 and its 200 day moving average price is $215.26. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm has a market cap of $164.30 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.41.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. American Express’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 earnings per share. Analysts predict that American Express will post 13 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. Royal Bank of Canada increased their price target on American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Robert W. Baird raised their price target on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. BMO Capital Markets increased their target price on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley raised their target price on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $220.30.

Insider Buying and Selling at American Express

In related news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the completion of the transaction, the insider now owns 16,371 shares in the company, valued at $3,957,361.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Express news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the transaction, the insider now directly owns 16,371 shares in the company, valued at $3,957,361.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the sale, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,717 shares of company stock worth $41,680,999. Corporate insiders own 0.12% of the company’s stock.

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.