Michael J. Angelakis Purchases 3,700 Shares of American Express (NYSE:AXP) Stock

American Express (NYSE:AXP) Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

American Express Trading Down 1.7 %

Shares of NYSE:AXP opened at $256.31 on Friday. American Express has a 52-week low of $214.51 and a 52-week high of $326.27. The company has a market cap of $180.07 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.41 and a beta of 1.21. The stock’s 50-day moving average is $302.33 and its 200-day moving average is $287.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is presently 23.41%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. HSBC raised their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Truist Financial started coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Morgan Stanley raised their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Monness Crespi & Hardt boosted their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $296.38.

Hedge Funds Weigh In On American Express

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in American Express in the third quarter valued at approximately $48,000. CWA Asset Management Group LLC bought a new stake in American Express during the third quarter worth $1,146,000. Assetmark Inc. lifted its stake in American Express by 6.7% in the third quarter. Assetmark Inc. now owns 67,025 shares of the payment services company’s stock valued at $18,177,000 after acquiring an additional 4,180 shares during the last quarter. Atria Investments Inc grew its holdings in American Express by 3.0% during the third quarter. Atria Investments Inc now owns 49,021 shares of the payment services company’s stock worth $13,294,000 after purchasing an additional 1,416 shares during the period. Finally, Sheets Smith Wealth Management acquired a new position in shares of American Express during the 3rd quarter worth approximately $230,000. 84.33% of the stock is owned by institutional investors.

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.