SteelPeak Wealth LLC Buys 692 Shares of American Express (NYSE:AXP)

SteelPeak Wealth LLC raised its position in American Express (NYSE:AXP) by 23.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,625 shares of the payment services company’s stock after buying an additional 692 shares during the period. SteelPeak Wealth LLC’s holdings in American Express were worth $1,076,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after purchasing an additional 86,100 shares during the period. FMR LLC lifted its holdings in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after buying an additional 866,110 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after acquiring an additional 239,173 shares during the last quarter. Janus Henderson Group PLC grew its holdings in American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after acquiring an additional 33,193 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of American Express by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock valued at $655,137,000 after acquiring an additional 247,864 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Monness Crespi & Hardt lifted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen boosted their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company raised their price objective on American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $294.95.

American Express Stock Down 0.6 %

AXP stock opened at $315.14 on Thursday. The company has a market cap of $222.00 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.51 and a beta of 1.23. American Express has a twelve month low of $199.88 and a twelve month high of $326.27. The business has a 50 day moving average price of $303.60 and a two-hundred day moving average price of $276.27. 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 issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. Analysts anticipate that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.89%. American Express’s dividend payout ratio (DPR) is currently 20.60%.

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.