American Express (NYSE:AXP) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC reduced its position in shares of American Express (NYSE:AXP) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,941 shares of the payment services company’s stock after selling 110 shares during the quarter. American Express accounts for 3.6% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 5th biggest holding. Chemistry Wealth Management LLC’s holdings in American Express were worth $15,416,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC raised its stake in American Express by 2.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 2,178 shares of the payment services company’s stock valued at $646,000 after purchasing an additional 47 shares during the period. Saxon Interests Inc. raised its stake in American Express by 1.7% during the 4th quarter. Saxon Interests Inc. now owns 5,536 shares of the payment services company’s stock valued at $1,643,000 after purchasing an additional 95 shares during the period. Avanza Fonder AB acquired a new stake in American Express during the 4th quarter valued at $12,083,000. Wealthcare Advisory Partners LLC raised its stake in American Express by 2.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,931 shares of the payment services company’s stock valued at $1,464,000 after purchasing an additional 133 shares during the period. Finally, Procyon Advisors LLC increased its stake in shares of American Express by 3.3% in the fourth quarter. Procyon Advisors LLC now owns 8,345 shares of the payment services company’s stock worth $2,477,000 after acquiring an additional 270 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AXP. Wells Fargo & Company upped their price target on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Compass Point upped their price target on shares of American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and upped their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $278.09.

American Express Stock Up 0.4 %

AXP stock opened at $312.75 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50-day moving average of $298.75 and a two-hundred day moving average of $271.18. American Express has a 52-week low of $177.81 and a 52-week high of $315.40. The stock has a market capitalization of $220.32 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company earned $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that American Express will post 13.48 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is 20.60%.

Insiders Place Their Bets

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