American Express (NYSE:AXP) Shares Sold by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC decreased its holdings in shares of American Express (NYSE:AXP) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,021 shares of the payment services company’s stock after selling 649 shares during the quarter. American Express comprises about 0.3% of Gitterman Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Gitterman Wealth Management LLC’s holdings in American Express were worth $566,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AXP. Boston Partners acquired a new stake in shares of American Express during the third quarter worth $210,540,000. International Assets Investment Management LLC raised its position in shares of American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after buying an additional 714,370 shares during the period. Canoe Financial LP purchased a new position in shares of American Express in the 3rd quarter worth $73,906,000. Schonfeld Strategic Advisors LLC raised its position in shares of American Express by 636.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 442,307 shares of the payment services company’s stock worth $65,988,000 after buying an additional 382,272 shares during the period. Finally, Cerity Partners LLC raised its position in shares of American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after buying an additional 335,338 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of several research reports. Wells Fargo & Company increased their target price on American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen boosted their price objective on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. William Blair restated an “outperform” rating on shares of American Express in a research note on Friday. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Oppenheimer restated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $209.52.

American Express Stock Down 0.6 %

American Express stock traded down $1.46 during midday trading on Friday, hitting $235.64. The stock had a trading volume of 2,993,335 shares, compared to its average volume of 3,154,841. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. The stock has a market cap of $169.50 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.34 and a beta of 1.23. American Express has a 12 month low of $140.91 and a 12 month high of $240.55. The business has a fifty day moving average price of $222.57 and a 200 day moving average price of $191.74.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.36. The firm had revenue of $15.80 billion during 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%. American Express’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. Research analysts predict that American Express will post 12.99 EPS for the current year.

American Express Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity

In other news, CEO Stephen J. Squeri sold 38,873 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 completion of the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,920 shares of company stock valued at $45,804,652. 0.12% of the stock is currently owned by 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.