Renasant Bank Invests $231,000 in American Express (NYSE:AXP)

Renasant Bank purchased a new stake in shares of American Express (NYSE:AXP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 780 shares of the payment services company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of American Express during the third quarter valued at about $27,000. True Wealth Design LLC boosted its position in American Express by 332.0% during the 3rd 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 in the last quarter. Financial Life Planners purchased a new position in shares of American Express during the 4th quarter worth approximately $38,000. Sierra Ocean LLC bought a new position in shares of American Express in the 4th quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of American Express in the 3rd quarter valued at approximately $38,000. Institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. Compass Point reduced their price target on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company increased their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Evercore ISI lifted their price target on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $299.24.

American Express Stock Up 3.7 %

Shares of American Express stock opened at $266.04 on Friday. American Express has a twelve month low of $214.51 and a twelve month high of $326.27. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company’s 50 day moving average is $301.59 and its 200 day moving average is $287.97. The company has a market cap of $186.90 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Research analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently declared 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 of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

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.