Milestone Asset Management LLC Grows Holdings in American Express (NYSE:AXP)

Milestone Asset Management LLC increased its holdings in American Express (NYSE:AXP) by 14.4% during the 4th quarter, HoldingsChannel reports. The firm owned 24,642 shares of the payment services company’s stock after buying an additional 3,103 shares during the period. American Express accounts for approximately 1.6% of Milestone Asset Management LLC’s portfolio, making the stock its 10th largest position. Milestone Asset Management LLC’s holdings in American Express were worth $7,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in American Express during the third quarter worth $27,000. Kennebec Savings Bank purchased a new stake in shares of American Express during the third quarter valued at $29,000. True Wealth Design LLC boosted its stake in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the third quarter valued at $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Express in the third quarter worth about $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Down 0.6 %

American Express stock opened at $315.14 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 12 month low of $199.88 and a 12 month high of $326.27. The stock’s 50 day simple moving average is $303.60 and its two-hundred day simple moving average is $276.27. The firm has a market cap of $222.00 billion, a PE ratio of 23.19, a P/E/G ratio of 1.51 and a beta of 1.23.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.46% and a net margin of 15.32%. Analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

Insiders Place Their Bets

In other news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXP. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday. HSBC upped their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday. TD Cowen boosted their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Morgan Stanley boosted their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $294.95.

About American Express

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.