Monterey Private Wealth Inc. Has $465,000 Stock Position in American Express (NYSE:AXP)

Monterey Private Wealth Inc. increased its stake in shares of American Express (NYSE:AXP) by 49.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,568 shares of the payment services company’s stock after buying an additional 517 shares during the quarter. Monterey Private Wealth Inc.’s holdings in American Express were worth $465,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of American Express during the third quarter worth $27,000. Kennebec Savings Bank bought a new stake in American Express during the 3rd quarter worth about $29,000. True Wealth Design LLC increased its position in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of American Express in the third quarter worth about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Express during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $312.75 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $220.32 billion, a PE ratio of 23.01, a P/E/G ratio of 1.47 and a beta of 1.23. The stock has a 50 day simple moving average of $299.65 and a 200 day simple moving average of $272.78. American Express has a 52-week low of $177.81 and a 52-week high of $315.40.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 earnings per share. Sell-side analysts predict that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is 20.60%.

Insider Transactions at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXP. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. TD Cowen boosted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Compass Point raised their price target on American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Finally, Monness Crespi & Hardt upped their target price on shares of American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $278.09.

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.