Graney & King LLC Acquires New Stake in American Express (NYSE:AXP)

Graney & King LLC bought a new position in American Express (NYSE:AXP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 259 shares of the payment services company’s stock, valued at approximately $77,000.

A number of other large investors have also made changes to their positions in the company. Eagle Asset Management Inc. grew its position in American Express by 30.6% during the third quarter. Eagle Asset Management Inc. now owns 7,049 shares of the payment services company’s stock valued at $2,027,000 after buying an additional 1,651 shares during the period. Great Valley Advisor Group Inc. boosted its stake in shares of American Express by 6.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,003 shares of the payment services company’s stock worth $815,000 after acquiring an additional 194 shares during the last quarter. Centaurus Financial Inc. grew its position in shares of American Express by 7.9% during the 3rd quarter. Centaurus Financial Inc. now owns 1,318 shares of the payment services company’s stock valued at $358,000 after acquiring an additional 97 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of American Express by 3.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,824 shares of the payment services company’s stock worth $1,308,000 after purchasing an additional 179 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in American Express by 17.8% in the 3rd quarter. Private Trust Co. NA now owns 6,652 shares of the payment services company’s stock worth $1,804,000 after purchasing an additional 1,007 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 0.5 %

Shares of NYSE AXP opened at $279.23 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The firm’s 50-day moving average price is $297.50 and its 200-day moving average price is $289.24. The stock has a market capitalization of $196.17 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, equities research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This is a boost 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 dividend on an annualized basis and a yield of 1.17%. American Express’s payout ratio is 23.41%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. HSBC lifted their price target on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average target price of $302.57.

Insider Activity

In related news, Director Michael J. Angelakis purchased 3,700 shares of the business’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 completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.