Michael J. Angelakis Acquires 3,700 Shares of American Express (NYSE:AXP) Stock

American Express (NYSE:AXP) Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

American Express Price Performance

Shares of NYSE AXP opened at $261.19 on Thursday. 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 firm has a market cap of $183.49 billion, a PE ratio of 18.64, a PEG ratio of 1.41 and a beta of 1.21. American Express has a one year low of $214.51 and a one year high of $326.27. The firm has a fifty day moving average of $303.18 and a 200 day moving average of $288.10.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 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, research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. 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 target on the stock. Finally, Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $296.38.

Institutional Trading of American Express

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in American Express in the 4th quarter valued at $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of American Express by 463.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock valued at $1,293,259,000 after buying an additional 3,583,959 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after buying an additional 1,943,463 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in American Express by 346.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after acquiring an additional 1,568,747 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after acquiring an additional 1,009,042 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

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.