Retirement Systems of Alabama Has $89.96 Million Stake in American Express (NYSE:AXP)

Retirement Systems of Alabama lowered its holdings in American Express (NYSE:AXP) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 480,181 shares of the payment services company’s stock after selling 4,670 shares during the quarter. Retirement Systems of Alabama owned about 0.07% of American Express worth $89,957,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Strategic Advisors LLC lifted its position in American Express by 1.1% during the fourth quarter. Strategic Advisors LLC now owns 5,244 shares of the payment services company’s stock valued at $982,000 after buying an additional 58 shares during the period. Transcend Capital Advisors LLC lifted its position in American Express by 4.0% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,584 shares of the payment services company’s stock valued at $297,000 after buying an additional 61 shares during the period. WASHINGTON TRUST Co lifted its position in American Express by 1.3% during the fourth quarter. WASHINGTON TRUST Co now owns 4,894 shares of the payment services company’s stock valued at $917,000 after buying an additional 64 shares during the period. Beaumont Financial Advisors LLC lifted its position in American Express by 0.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 8,786 shares of the payment services company’s stock valued at $1,646,000 after buying an additional 64 shares during the period. Finally, Venture Visionary Partners LLC lifted its position in American Express by 0.3% during 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 buying an additional 65 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP stock traded down $1.46 during trading hours on Friday, reaching $235.64. 2,993,335 shares of the company traded hands, compared to its average volume of 3,154,841. American Express has a 12-month low of $140.91 and a 12-month high of $240.55. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.63. The company 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. The firm has a 50-day moving average price of $222.57 and a 200 day moving average price of $191.74.

American Express (NYSE:AXP) last posted its quarterly earnings data 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 return on equity of 32.46% and a net margin of 14.50%. 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 firm earned $2.40 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that American Express will post 12.99 earnings per share for the current fiscal year.

American Express Cuts Dividend

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

Insider Activity

In related news, insider Monique Herena sold 11,242 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the transaction, the insider now directly owns 13,874 shares of the company’s stock, valued at approximately $2,891,480.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Laureen Seeger sold 84,420 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the transaction, the insider now directly owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Monique Herena sold 11,242 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the completion of the transaction, the insider now directly owns 13,874 shares in the company, valued at $2,891,480.34. The disclosure for this sale can be found here. Insiders have sold a total of 210,920 shares of company stock valued at $45,804,652 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays restated an “equal weight” rating and set a $221.00 price target (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Stephens upgraded American Express from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $148.00 to $193.00 in a report on Tuesday, January 2nd. Oppenheimer restated an “outperform” rating on shares of American Express in a report on Friday, April 5th. Finally, Evercore ISI raised their price target on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $209.52.

American Express 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.