Westchester Capital Management Inc. Has $196,000 Stock Position in American Express (NYSE:AXP)

Westchester Capital Management Inc. increased its stake in shares of American Express (NYSE:AXP) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 660 shares of the payment services company’s stock after purchasing an additional 100 shares during the quarter. Westchester Capital Management Inc.’s holdings in American Express were worth $196,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the third quarter worth approximately $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express during the third quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares during the period. Financial Life Planners acquired a new stake in shares of American Express during the fourth quarter worth approximately $38,000. Finally, Sierra Ocean LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXP. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. HSBC lifted their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, BTIG Research lifted their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $296.38.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction 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 trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Stock Down 2.3 %

Shares of NYSE:AXP opened at $255.38 on Wednesday. American Express has a 52 week low of $214.51 and a 52 week high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company’s fifty day moving average is $303.89 and its 200-day moving average is $288.29. The company has a market capitalization of $179.41 billion, a PE ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued 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 net margin of 15.36% and a return on equity of 32.65%. Equities research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.28%. American Express’s dividend payout ratio is 23.41%.

About American Express

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.