Gateway Investment Advisers LLC Sells 368 Shares of American Express (NYSE:AXP)

Gateway Investment Advisers LLC lessened its stake in shares of American Express (NYSE:AXP) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,386 shares of the payment services company’s stock after selling 368 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American Express were worth $1,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Game Plan Financial Advisors LLC lifted its position in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in American Express in the 4th quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in American Express in the 4th quarter valued at about $28,000. Tennessee Valley Asset Management Partners bought a new position in American Express in the 4th quarter valued at about $28,000. Finally, Sachetta LLC purchased a new stake in American Express in the 4th quarter valued at about $29,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,717 shares of company stock worth $41,680,999. 0.11% of the stock is currently owned by company insiders.

American Express Trading Down 0.9 %

NYSE:AXP traded down $2.05 during trading hours on Tuesday, reaching $229.42. The company’s stock had a trading volume of 638,005 shares, compared to its average volume of 3,033,037. The firm has a market capitalization of $165.02 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.31 and a beta of 1.22. The firm has a 50-day simple moving average of $233.96 and a 200-day simple moving average of $214.72. American Express has a 1 year low of $140.91 and a 1 year high of $244.41. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62.

American Express (NYSE:AXPGet Free Report) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. Research analysts expect that American Express will post 13 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.70 dividend. This is a boost from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.22%. American Express’s payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Citigroup assumed coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Barclays reiterated an “equal weight” rating and issued a $221.00 price objective (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. HSBC increased their price objective on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Robert W. Baird raised their price target on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $220.30.

Check Out Our Latest Analysis on American Express

American Express Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPFree Report).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.