Harvest Fund Management Co. Ltd Purchases 6,792 Shares of American Express (NYSE:AXP)

Harvest Fund Management Co. Ltd boosted its position in American Express (NYSE:AXP) by 140.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,616 shares of the payment services company’s stock after purchasing an additional 6,792 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in American Express were worth $3,449,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in American Express in the 3rd quarter valued at $27,000. True Wealth Design LLC lifted its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the period. Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter valued at $37,000. Financial Life Planners bought a new stake in shares of American Express during the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC bought a new stake in shares of American Express during the 4th quarter valued at $40,000. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXP. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Royal Bank of Canada boosted their price target on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Argus cut American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Citigroup upped their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $303.52.

American Express Stock Down 0.6 %

Shares of American Express stock opened at $262.71 on Wednesday. American Express has a one year low of $214.51 and a one year high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock’s 50-day moving average is $300.06 and its 200 day moving average is $288.47. The firm has a market cap of $184.56 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.25%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

Insiders Place Their Bets

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Company 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.