Wellington Shields Capital Management LLC Boosts Stock Holdings in American Express (NYSE:AXP)

Wellington Shields Capital Management LLC increased its position in shares of American Express (NYSE:AXP) by 470.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 179,359 shares of the payment services company’s stock after buying an additional 147,929 shares during the period. American Express makes up 4.5% of Wellington Shields Capital Management LLC’s holdings, making the stock its 5th biggest holding. Wellington Shields Capital Management LLC’s holdings in American Express were worth $53,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Proficio Capital Partners LLC lifted its stake in shares of American Express by 36,719.1% in 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 purchasing an additional 1,009,042 shares during the period. Raymond James Financial Inc. bought a new stake in American Express in the fourth quarter worth approximately $292,081,000. FMR LLC lifted its stake in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after buying an additional 866,110 shares during the period. World Investment Advisors LLC boosted its holdings in shares of American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of American Express by 73.7% during the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Royal Bank of Canada boosted their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Evercore ISI boosted their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. Finally, Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Three 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 company has a consensus rating of “Hold” and a consensus price target of $296.38.

American Express Stock Down 1.7 %

AXP stock opened at $256.31 on Friday. The stock has a market cap of $180.07 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock’s fifty day simple moving average is $302.33 and its two-hundred day simple moving average is $287.88. American Express has a 1-year low of $214.51 and a 1-year high of $326.27.

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

American Express Increases Dividend

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

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

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.