Harbor Investment Advisory LLC Buys 965 Shares of American Express (NYSE:AXP)

Harbor Investment Advisory LLC lifted its stake in shares of American Express (NYSE:AXP) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,249 shares of the payment services company’s stock after acquiring an additional 965 shares during the quarter. Harbor Investment Advisory LLC’s holdings in American Express were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Game Plan Financial Advisors LLC raised its position in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of American Express during the fourth quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in American Express in the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in American Express in the fourth quarter worth approximately $28,000. Finally, Sachetta LLC bought a new stake in American Express in the fourth quarter worth approximately $29,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,717 shares of company stock worth $41,680,999. 0.11% of the stock is owned by company insiders.

American Express Stock Performance

Shares of AXP opened at $231.52 on Tuesday. The firm has a market cap of $166.53 billion, a PE ratio of 19.07, a PEG ratio of 1.31 and a beta of 1.22. The stock’s fifty day moving average price is $233.96 and its two-hundred day moving average price is $214.72. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. American Express has a 1 year low of $140.91 and a 1 year high of $244.41.

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

American Express Increases Dividend

The business also recently disclosed 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 represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s payout ratio is presently 23.06%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research analyst reports. TD Cowen lifted their target price on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Robert W. Baird lifted their target price on American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Evercore ISI lifted their target price on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Oppenheimer reissued an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $220.30.

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.