American Express (NYSE:AXP) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its position in American Express (NYSE:AXP) by 6.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,303 shares of the payment services company’s stock after selling 1,106 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in American Express were worth $3,940,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Venture Visionary Partners LLC raised its position 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 worth $4,349,000 after acquiring an additional 65 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of American Express by 5.5% in the 4th 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 in the last quarter. Cerity Partners LLC lifted its stake in shares of 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 period. Cullen Investment Group LTD. purchased a new stake in American Express during the fourth quarter worth about $2,460,000. Finally, J.W. Cole Advisors Inc. grew its position in 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 buying an additional 2,572 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $231.55 on Friday. 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. The firm has a market capitalization of $166.55 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.32 and a beta of 1.22. The business’s 50-day simple moving average is $234.69 and its 200-day simple moving average is $216.11.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the previous year, the company posted $2.40 earnings per share. American Express’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict 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. Shareholders 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%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is currently 23.06%.

Analysts Set New Price Targets

Several brokerages have recently commented on AXP. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company raised their price target on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Oppenheimer reissued an “outperform” rating on shares of American Express in a research note on Friday, April 5th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Royal Bank of Canada lifted their price objective on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $220.30.

Insider Activity

In related news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction that occurred on 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 directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction dated 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 sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of American Express stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now owns 16,371 shares in the company, valued at $3,957,361.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by corporate 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.