Baker Boyer National Bank Grows Position in American Express (NYSE:AXP)

Baker Boyer National Bank increased its position in shares of American Express (NYSE:AXP) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,678 shares of the payment services company’s stock after buying an additional 85 shares during the period. Baker Boyer National Bank’s holdings in American Express were worth $382,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC increased its stake in American Express by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after purchasing an additional 609 shares during the last quarter. Cerity Partners LLC increased its stake in American Express by 417.3% in the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after purchasing an additional 335,338 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in shares of American Express during the fourth quarter worth approximately $2,460,000. Finally, J.W. Cole Advisors Inc. grew its position in shares of American Express by 35.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock worth $1,837,000 after acquiring an additional 2,572 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research reports. Evercore ISI raised their target price on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Barclays restated an “equal weight” rating and set a $221.00 target price (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. HSBC raised their target price on shares of American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Robert W. Baird increased their price target on American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $220.30.

American Express Price Performance

Shares of NYSE:AXP traded up $2.28 during midday trading on Monday, hitting $232.66. 608,992 shares of the stock were exchanged, compared to its average volume of 3,040,132. The stock has a market cap of $167.35 billion, a P/E ratio of 19.15, a PEG 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 company has a 50 day moving average price of $233.69 and a 200-day moving average price of $214.27.

American Express (NYSE:AXP) last posted its quarterly earnings data 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 firm 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. On average, research analysts forecast that American Express will post 13 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $0.70 dividend. This is a boost 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 1.20%. American Express’s payout ratio is 23.06%.

Insider Buying and Selling at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction on 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 owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The disclosure for this sale can be found here. Insiders sold 177,717 shares of company stock worth $41,680,999 in the last 90 days. 0.12% of the stock is owned by company insiders.

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.