Rebalance LLC Has $527,000 Position in American Express (NYSE:AXP)

Rebalance LLC raised its position in American Express (NYSE:AXP) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,776 shares of the payment services company’s stock after buying an additional 191 shares during the quarter. Rebalance LLC’s holdings in American Express were worth $527,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in American Express in the third quarter valued at about $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC grew 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 valued at $29,000 after purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in American Express during the 3rd quarter worth approximately $38,000. Finally, Financial Life Planners bought a new position in American Express in the 4th quarter valued at approximately $38,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were 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 represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express 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 of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective on the stock. Citigroup increased their target price on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, BTIG Research upped their price objective on 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $296.38.

American Express Trading Down 0.9 %

NYSE AXP opened at $273.13 on Monday. The stock has a market capitalization of $191.88 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.41 and a beta of 1.21. The business has a 50 day simple moving average of $305.44 and a 200 day simple moving average of $288.17. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a one year low of $214.51 and a one year high of $326.27.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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%. Research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.20%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 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.