Hartford Funds Management Co LLC Raises Stock Position in American Express (NYSE:AXP)

Hartford Funds Management Co LLC grew its holdings in American Express (NYSE:AXP) by 28.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,440 shares of the payment services company’s stock after acquiring an additional 1,639 shares during the period. American Express comprises about 0.1% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 13th biggest position. Hartford Funds Management Co LLC’s holdings in American Express were worth $1,394,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in American Express in the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of American Express in the fourth quarter worth about $28,000. BluePath Capital Management LLC purchased a new stake in shares of American Express in the third quarter worth about $29,000. Pacifica Partners Inc. bought a new position in American Express during the fourth quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA grew its holdings in American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after buying an additional 89 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 2.0 %

Shares of American Express stock traded down $4.79 on Tuesday, hitting $234.13. 3,562,762 shares of the company traded hands, compared to its average volume of 3,206,016. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market cap of $168.41 billion, a PE ratio of 19.29, a PEG ratio of 1.34 and a beta of 1.23. The stock’s 50 day moving average price is $223.53 and its 200-day moving average price is $193.22. American Express has a 52 week low of $140.91 and a 52 week high of $240.55.

American Express (NYSE:AXP) last issued its 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 return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. During the same period in the previous year, the company posted $2.40 EPS. American Express’s revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that American Express will post 12.99 EPS for the current year.

American Express Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TD Cowen upped their price objective on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Morgan Stanley upped their price target on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets upped their target price on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $209.52.

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 84,420 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the sale, the insider now owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Express news, insider Laureen Seeger sold 84,420 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the completion of the sale, the insider now directly owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Monique Herena sold 11,242 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the completion of the sale, the insider now owns 13,874 shares in the company, valued at $2,891,480.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,891 shares of company stock valued at $44,373,196. Company insiders own 0.11% of the company’s stock.

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.