Kingswood Wealth Advisors LLC Sells 773 Shares of American Express (NYSE:AXP)

Kingswood Wealth Advisors LLC lowered its holdings in shares of American Express (NYSE:AXP) by 21.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,905 shares of the payment services company’s stock after selling 773 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in American Express were worth $862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. World Investment Advisors LLC grew its holdings in shares of American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the last quarter. XML Financial LLC grew its holdings in American Express by 9.8% in the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after acquiring an additional 101 shares during the last quarter. LVM Capital Management Ltd. MI grew its holdings in American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after acquiring an additional 2,557 shares during the last quarter. Nordea Investment Management AB grew its holdings in American Express by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after acquiring an additional 247,864 shares during the last quarter. Finally, Founders Grove Wealth Partners LLC bought a new stake in American Express in the 4th quarter worth $298,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 0.3 %

Shares of NYSE AXP opened at $317.24 on Wednesday. The firm’s 50 day moving average price is $302.97 and its 200-day moving average price is $275.72. The company has a market cap of $223.48 billion, a PE ratio of 23.34, a P/E/G ratio of 1.51 and a beta of 1.23. American Express has a 52-week low of $199.07 and a 52-week high of $326.27. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. On average, equities research analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. American Express’s dividend payout ratio is presently 20.60%.

Insider Activity

In other news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AXP. TD Cowen raised their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Compass Point dropped their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Morgan Stanley lifted their target price on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $291.50.

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.