MJP Associates Inc. ADV Purchases Shares of 1,303 American Express (NYSE:AXP)

MJP Associates Inc. ADV purchased a new stake in American Express (NYSE:AXP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,303 shares of the payment services company’s stock, valued at approximately $297,000.

A number of other large investors also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in shares of American Express during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of American Express during the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express during the 4th quarter worth approximately $28,000. Pacifica Partners Inc. acquired a new position in shares of American Express during the 4th quarter worth approximately $29,000. Finally, Baldwin Brothers LLC MA raised its stake in shares of American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after buying an additional 89 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE AXP opened at $230.38 on Friday. The stock has a market cap of $165.71 billion, a PE ratio of 18.98, a P/E/G ratio of 1.31 and a beta of 1.22. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a twelve month low of $140.91 and a twelve month high of $244.41. The stock has a fifty day simple moving average of $233.69 and a 200-day simple moving average of $213.95.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 EPS. Equities analysts anticipate that American Express will post 13 earnings per share 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 paid a dividend of $0.70 per share. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 1.22%. American Express’s dividend payout ratio is presently 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Company boosted their price target on American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. HSBC boosted their price target on American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Evercore ISI boosted their price target on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $220.30.

Insider Buying and Selling

In related news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.