Shufro Rose & Co. LLC Makes New Investment in American Express (NYSE:AXP)

Shufro Rose & Co. LLC purchased a new position in shares of American Express (NYSE:AXP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,583 shares of the payment services company’s stock, valued at approximately $224,000.

Several other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its stake in shares of American Express by 1.3% during the 1st quarter. Fisher Asset Management LLC now owns 15,184,174 shares of the payment services company’s stock worth $2,147,650,000 after acquiring an additional 201,874 shares during the last quarter. Morgan Stanley boosted its stake in shares of American Express by 0.9% during the 4th quarter. Morgan Stanley now owns 8,740,430 shares of the payment services company’s stock worth $1,056,805,000 after acquiring an additional 77,624 shares during the last quarter. Norges Bank purchased a new position in shares of American Express during the 4th quarter worth $816,426,000. Artisan Partners Limited Partnership boosted its stake in shares of American Express by 0.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,350,632 shares of the payment services company’s stock worth $646,945,000 after acquiring an additional 41,549 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of American Express by 25.2% during the 4th quarter. Lazard Asset Management LLC now owns 5,059,501 shares of the payment services company’s stock worth $611,741,000 after acquiring an additional 1,018,919 shares during the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.

Shares of NYSE:AXP opened at $154.80 on Tuesday. The company has a market capitalization of $124.35 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 3.27 and a beta of 1.36. American Express has a 12 month low of $76.00 and a 12 month high of $156.05. The firm’s 50-day moving average is $146.00 and its 200 day moving average is $126.68. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.05.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, beating the consensus estimate of $1.61 by $1.13. The company had revenue of $9.06 billion for the quarter, compared to the consensus estimate of $9.19 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. The firm’s revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts forecast that American Express will post 4.85 EPS for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Monday, May 10th. Investors of record on Friday, April 2nd will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, March 31st. This represents a yield of 1.2%. American Express’s payout ratio is 20.98%.

A number of research analysts recently weighed in on AXP shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $131.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird cut shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 target price on the stock. in a research note on Tuesday, February 16th. Barclays lifted their target price on shares of American Express from $139.00 to $146.00 and gave the company an “equal weight” rating in a research note on Monday. Credit Suisse Group decreased their price target on shares of American Express from $120.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 27th. Finally, JPMorgan Chase & Co. upgraded shares of American Express from an “underweight” rating to an “overweight” rating and set a $148.00 price target on the stock in a research note on Tuesday, January 19th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $126.33.

In other American Express news, insider Anre D. Williams sold 59,352 shares of the company’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $145.88, for a total value of $8,658,269.76. Following the transaction, the insider now directly owns 85,522 shares in the company, valued at approximately $12,475,949.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas E. Buckminster sold 32,833 shares of the company’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $146.08, for a total transaction of $4,796,244.64. Following the completion of the transaction, the insider now owns 111,247 shares in the company, valued at $16,250,961.76. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

See Also: What is the accumulation/distribution indicator?

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:AXP).

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.