Phoenix Wealth Advisors Has $636,000 Stock Position in American Express (NYSE:AXP)

Phoenix Wealth Advisors reduced its stake in shares of American Express (NYSE:AXP) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,143 shares of the payment services company’s stock after selling 46 shares during the quarter. Phoenix Wealth Advisors’ holdings in American Express were worth $636,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank bought a new stake in shares of American Express during the 3rd quarter worth $29,000. 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 worth $29,000 after buying an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of American Express during the 3rd quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Express during the 3rd quarter worth $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 1.8 %

NYSE AXP opened at $318.07 on Wednesday. The business has a 50 day simple moving average of $300.24 and a 200 day simple moving average of $273.36. American Express has a one year low of $184.06 and a one year high of $319.70. The stock has a market capitalization of $224.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express Announces Dividend

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

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’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 value of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Monness Crespi & Hardt upped their price objective on American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Morgan Stanley increased their target price on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $278.09.

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.