Envestnet Portfolio Solutions Inc. Purchases 1,538 Shares of American Express (NYSE:AXP)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of American Express (NYSE:AXP) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,489 shares of the payment services company’s stock after acquiring an additional 1,538 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in American Express were worth $2,902,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BKM Wealth Management LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners purchased a new position in American Express during the fourth quarter valued at approximately $28,000. Baldwin Brothers LLC MA grew its holdings in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares during the last quarter. WFA Asset Management Corp purchased a new position in American Express in the fourth quarter worth $30,000. Finally, Pacifica Partners Inc. purchased a new position in American Express in the fourth quarter worth $29,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE AXP opened at $241.68 on Thursday. The firm has a 50-day simple moving average of $227.86 and a 200-day simple moving average of $199.81. The stock has a market capitalization of $173.84 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 52 week low of $140.91 and a 52 week high of $243.54.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 earnings per share. On average, equities analysts predict that American Express will post 12.99 earnings per share 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. Investors of record on Friday, July 5th will be given a dividend of $0.70 per share. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’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 completion of the sale, the insider now directly owns 110,318 shares in the company, valued at $25,642,315.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express 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 completion of the sale, the insider now directly owns 110,318 shares in the company, valued at $25,642,315.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of American Express 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 sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,717 shares of company stock worth $41,680,999. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AXP. Monness Crespi & Hardt raised shares of American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target on the stock in a report on Friday, April 5th. Oppenheimer reaffirmed an “outperform” rating on shares of American Express in a report on Friday, April 5th. William Blair reissued an “outperform” rating on shares of American Express in a report on Friday, April 26th. BMO Capital Markets raised their price objective on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a research note on Monday, April 22nd. Finally, Barclays reiterated an “equal weight” rating and issued a $221.00 target price (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Four equities research 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. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $210.71.

About American Express

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.