Venturi Wealth Management LLC lifted its stake in shares of American Express (NYSE:AXP) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,178 shares of the payment services company’s stock after purchasing an additional 256 shares during the quarter. Venturi Wealth Management LLC’s holdings in American Express were worth $8,861,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Employers Holdings Inc. raised its position in American Express by 112.4% in the third quarter. Employers Holdings Inc. now owns 30,952 shares of the payment services company’s stock worth $3,737,000 after acquiring an additional 16,381 shares in the last quarter. Alps Advisors Inc. raised its position in American Express by 3.6% in the third quarter. Alps Advisors Inc. now owns 151,066 shares of the payment services company’s stock worth $17,868,000 after acquiring an additional 5,319 shares in the last quarter. Cresset Asset Management LLC raised its position in American Express by 6.8% in the second quarter. Cresset Asset Management LLC now owns 7,435 shares of the payment services company’s stock worth $918,000 after acquiring an additional 473 shares in the last quarter. Calamos Advisors LLC raised its position in American Express by 5.9% in the third quarter. Calamos Advisors LLC now owns 190,604 shares of the payment services company’s stock worth $22,545,000 after acquiring an additional 10,586 shares in the last quarter. Finally, First Trust Advisors LP raised its position in American Express by 41.4% in the third quarter. First Trust Advisors LP now owns 297,845 shares of the payment services company’s stock worth $35,229,000 after acquiring an additional 87,134 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.
AXP traded down $5.77 during trading on Monday, reaching $129.34. The company had a trading volume of 765,645 shares, compared to its average volume of 2,890,952. The firm’s 50-day simple moving average is $125.98 and its 200 day simple moving average is $121.93. The company has a market cap of $110.56 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.42 and a beta of 1.05. American Express has a 12-month low of $99.48 and a 12-month high of $138.13. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.86 and a current ratio of 2.41.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, January 2nd. This is a boost from American Express’s previous quarterly dividend of $0.39. American Express’s payout ratio is 20.98%.
In other American Express news, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the transaction, the chief executive officer now owns 184,090 shares of the company’s stock, valued at approximately $21,715,256.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.
AXP has been the topic of several research reports. Nomura reiterated a “buy” rating and issued a $141.00 price target on shares of American Express in a research report on Monday. ValuEngine cut shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $144.00 price target on shares of American Express in a research report on Monday. Stephens cut shares of American Express from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $136.00 to $144.00 in a research report on Monday. Finally, Cfra reiterated a “hold” rating on shares of American Express in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $131.96.
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.
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