Drive Wealth Management LLC Has $444,000 Stock Position in American Express (NYSE:AXP)

Drive Wealth Management LLC lifted its holdings in shares of American Express (NYSE:AXP) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,495 shares of the payment services company’s stock after purchasing an additional 66 shares during the quarter. Drive Wealth Management LLC’s holdings in American Express were worth $444,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in American Express in the 3rd quarter valued at $27,000. Kennebec Savings Bank acquired a new position in American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC grew its stake 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 buying an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in American Express in the 3rd quarter valued at $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express in the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, 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 in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.12% of the company’s stock.

American Express Trading Down 1.6 %

Shares of AXP stock opened at $316.23 on Tuesday. American Express has a 12-month low of $199.07 and a 12-month high of $326.27. The company has a market capitalization of $222.77 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.51 and a beta of 1.23. The firm has a 50-day moving average price of $302.35 and a 200 day moving average price of $275.17. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly 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 15.32% and a return on equity of 32.46%. Research analysts forecast that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, January 3rd. American Express’s payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group increased their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. TD Cowen increased their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Monday. Finally, Monness Crespi & Hardt increased their price target on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $288.32.

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.