Sterneck Capital Management LLC Increases Position in American Express (NYSE:AXP)

Sterneck Capital Management LLC increased its stake in shares of American Express (NYSE:AXP) by 31.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,257 shares of the payment services company’s stock after purchasing an additional 302 shares during the quarter. Sterneck Capital Management LLC’s holdings in American Express were worth $373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in shares of American Express in the 3rd quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the third quarter worth $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the 3rd quarter valued at $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express during the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of American Express stock opened at $302.13 on Wednesday. The business has a 50 day simple moving average of $295.23 and a two-hundred day simple moving average of $268.18. The stock has a market capitalization of $212.83 billion, a P/E ratio of 22.23, a PEG ratio of 1.73 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 12 month low of $177.81 and a 12 month high of $307.82.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. As a group, analysts predict that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group upped their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Compass Point upped their target price on American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on American Express from $286.00 to $301.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $272.64.

Insider Transactions at American Express

In related news, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,998 shares of company stock worth $26,423,439 in the last quarter. Company insiders own 0.12% of the company’s stock.

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.