J.W. Cole Advisors Inc. raised its stake in American Express (NYSE:AXP – Free Report) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,230 shares of the payment services company’s stock after purchasing an additional 491 shares during the period. J.W. Cole Advisors Inc.’s holdings in American Express were worth $3,927,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in American Express in the 3rd quarter valued at about $27,000. Kennebec Savings Bank acquired a new position in American Express during the third quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in 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 buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners bought a new stake in shares of American Express in the fourth quarter worth $38,000. 84.33% of the stock is owned by institutional investors.
American Express Trading Up 1.3 %
Shares of AXP opened at $311.37 on Monday. The business’s 50-day moving average price is $306.96 and its 200-day moving average price is $282.25. American Express has a twelve month low of $209.10 and a twelve month high of $326.27. The stock has a market cap of $218.74 billion, a PE ratio of 22.22, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.
Insider Activity
In other American Express news, insider Raymond Joabar sold 15,179 shares of the 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 transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,664 shares of company stock valued at $9,613,503. 0.12% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have recently commented on AXP shares. TD Cowen boosted their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Citigroup upped their price target on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. BTIG Research upped their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $296.38.
View Our Latest Research Report on AXP
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.
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