Overbrook Management Corp Has $360,000 Stake in American Express (NYSE:AXP)

Overbrook Management Corp lowered its position in American Express (NYSE:AXP) by 93.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,583 shares of the payment services company’s stock after selling 21,854 shares during the quarter. Overbrook Management Corp’s holdings in American Express were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Capital Management Inc. bought a new stake in American Express in the 1st quarter valued at $232,000. Wealthcare Advisory Partners LLC increased its holdings in American Express by 6.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,550 shares of the payment services company’s stock valued at $1,036,000 after buying an additional 266 shares during the period. Revolve Wealth Partners LLC raised its position in shares of American Express by 7.0% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,304 shares of the payment services company’s stock valued at $297,000 after buying an additional 85 shares in the last quarter. Aspiriant LLC lifted its holdings in shares of American Express by 0.8% during the 1st quarter. Aspiriant LLC now owns 6,330 shares of the payment services company’s stock worth $1,441,000 after acquiring an additional 48 shares during the period. Finally, GoalVest Advisory LLC boosted its position in shares of American Express by 45.5% during the 1st quarter. GoalVest Advisory LLC now owns 326 shares of the payment services company’s stock worth $74,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.0 %

AXP traded down $2.27 on Thursday, hitting $228.41. 2,264,206 shares of the company were exchanged, compared to its average volume of 3,050,857. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a fifty day simple moving average of $234.46 and a two-hundred day simple moving average of $215.26. The stock has a market capitalization of $164.30 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22. American Express has a 12 month low of $140.91 and a 12 month high of $244.41.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that American Express will post 13 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AXP. Morgan Stanley raised their price objective on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft raised their target price on American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. BTIG Research assumed coverage on American Express in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a research note on Friday, April 5th. Finally, Royal Bank of Canada lifted their price objective on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $220.30.

Insider Buying and Selling at American Express

In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now directly owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now directly owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,717 shares of company stock valued at $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.