Activest Wealth Management Lowers Stake in American Express (NYSE:AXP)

Activest Wealth Management decreased its position in shares of American Express (NYSE:AXP) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 123 shares of the payment services company’s stock after selling 34 shares during the period. Activest Wealth Management’s holdings in American Express were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AXP. Prospera Private Wealth LLC purchased a new stake in shares of American Express in the third quarter valued at $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the 3rd quarter valued at about $29,000. True Wealth Design LLC lifted its holdings 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 acquiring an additional 83 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the third quarter worth approximately $38,000. Finally, Financial Life Planners purchased a new stake in American Express in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,664 shares of company stock valued at $9,613,503. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price objective on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. 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, January 27th. Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Barclays raised their target price on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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 stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $296.38.

American Express Stock Performance

AXP stock opened at $316.72 on Monday. The stock’s 50 day simple moving average is $306.29 and its 200 day simple moving average is $280.03. American Express has a 12-month low of $207.61 and a 12-month high of $326.27. The firm has a market cap of $223.11 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts predict that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is 19.99%.

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.