4,619 Shares in American Express Company $AXP Acquired by Trust Point Inc.

Trust Point Inc. acquired a new stake in American Express Company (NYSE:AXP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 4,619 shares of the payment services company’s stock, valued at approximately $1,534,000.

Other institutional investors have also made changes to their positions in the company. Flputnam Investment Management Co. grew its holdings in American Express by 106.9% during the 3rd quarter. Flputnam Investment Management Co. now owns 14,061 shares of the payment services company’s stock valued at $4,670,000 after purchasing an additional 7,264 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in American Express by 38.8% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 34,942 shares of the payment services company’s stock worth $11,606,000 after buying an additional 9,776 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in American Express by 2.8% in the 3rd quarter. Quotient Wealth Partners LLC now owns 3,035 shares of the payment services company’s stock valued at $1,008,000 after buying an additional 83 shares during the last quarter. Abound Wealth Management grew its stake in shares of American Express by 19.8% during the third quarter. Abound Wealth Management now owns 200 shares of the payment services company’s stock valued at $67,000 after acquiring an additional 33 shares in the last quarter. Finally, Perpetual Ltd increased its position in shares of American Express by 34.3% during the third quarter. Perpetual Ltd now owns 1,284 shares of the payment services company’s stock worth $426,000 after acquiring an additional 328 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 0.2%

American Express stock opened at $376.40 on Friday. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The firm’s 50-day moving average is $360.14 and its 200-day moving average is $331.25. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company has a market cap of $259.28 billion, a P/E ratio of 25.26, a PEG ratio of 1.80 and a beta of 1.14.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million for the quarter. On average, equities analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio is presently 22.01%.

Analysts Set New Price Targets

A number of brokerages recently commented on AXP. BTIG Research increased their price target on American Express from $277.00 to $307.00 and gave the company a “sell” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company upped their price target on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $334.30.

Insider Buying and Selling

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the transaction, the chief marketing officer owned 85,577 shares in the company, valued at $30,825,691.17. The trade was a 36.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,515 shares of company stock valued at $20,658,509. Insiders own 0.20% of the company’s stock.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.