E. Ohman J or Asset Management AB grew its position in shares of American Express (NYSE:AXP) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 25,970 shares of the payment services company’s stock after acquiring an additional 2,570 shares during the period. E. Ohman J or Asset Management AB’s holdings in American Express were worth $7,708,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AXP. Catalina Capital Group LLC increased its position in American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after acquiring an additional 34 shares in the last quarter. Auxier Asset Management raised its position in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the period. Abel Hall LLC increased its stake in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares in the last quarter. Sunflower Bank N.A. raised its holdings in American Express by 0.9% in the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after purchasing an additional 35 shares during the period. Finally, Foster & Motley Inc. lifted its holdings in American Express by 2.1% during the fourth quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on AXP. Citigroup upped their target price on shares of American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Truist Financial assumed coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Finally, Barclays raised their price target on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $296.38.
American Express Price Performance
Shares of AXP opened at $316.43 on Tuesday. The stock has a market cap of $222.91 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.49 and a beta of 1.24. The business’s fifty day moving average is $304.98 and its 200 day moving average is $277.73. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $203.42 and a 12-month high of $326.27.
American Express (NYSE:AXP – Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Sell-side analysts anticipate that American Express will post 15.3 earnings per share for the current fiscal year.
American Express Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.88%. American Express’s dividend payout ratio is presently 19.99%.
Insider Transactions at American Express
In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
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.
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