Portside Wealth Group LLC Has $804,000 Stake in American Express (NYSE:AXP)

Portside Wealth Group LLC reduced its holdings 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 2,966 shares of the payment services company’s stock after selling 64 shares during the period. Portside Wealth Group LLC’s holdings in American Express were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Sandy Cove Advisors LLC raised its stake in shares of American Express by 6.9% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,400 shares of the payment services company’s stock worth $415,000 after buying an additional 90 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in American Express by 3.4% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,988 shares of the payment services company’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Veery Capital LLC acquired a new position in American Express during the fourth quarter worth $205,000. Astoria Portfolio Advisors LLC. boosted its holdings in American Express by 2.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,076 shares of the payment services company’s stock worth $624,000 after purchasing an additional 58 shares during the last quarter. Finally, Jackson Square Capital LLC bought a new stake in American Express during the fourth quarter worth $2,606,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, 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 have sold a total of 96,998 shares of company stock valued at $26,423,439 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several research analyst reports. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and increased their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. UBS Group lifted their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Finally, Truist Financial began coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $278.09.

American Express Trading Up 0.4 %

Shares of NYSE AXP 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 stock has a market capitalization of $220.32 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. American Express has a 1-year low of $177.81 and a 1-year high of $315.40. The business has a fifty day moving average price of $299.26 and a 200 day moving average price of $271.73.

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

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is 20.60%.

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.