Kingsview Wealth Management LLC Purchases 553 Shares of American Express (NYSE:AXP)

Kingsview Wealth Management LLC grew its position in American Express (NYSE:AXP) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 22,812 shares of the payment services company’s stock after buying an additional 553 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American Express were worth $6,770,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in shares of American Express in the third quarter valued at approximately $29,000. True Wealth Design LLC raised its stake in shares of American Express by 332.0% in the third 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 during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners bought a new position in American Express in the 4th quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.1 %

Shares of NYSE:AXP opened at $316.72 on Friday. American Express has a 52-week low of $207.61 and a 52-week high of $326.27. The company has a market capitalization of $223.11 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a 50-day simple moving average of $306.29 and a 200 day simple moving average of $279.80. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that American Express will post 15.32 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.88%. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Insiders Place Their Bets

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock worth $9,613,503 over the last three months. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BTIG Research upped their price objective on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. UBS Group upped their price objective on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Citigroup upped their price objective on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Evercore ISI upped their price objective on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Finally, HSBC increased their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $296.38.

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.