American Express (NYSE:AXP) Stock Position Raised by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA lifted its position in American Express (NYSE:AXP) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,203 shares of the payment services company’s stock after acquiring an additional 134 shares during the quarter. GLOBALT Investments LLC GA’s holdings in American Express were worth $2,138,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express in the 4th quarter valued at approximately $832,000. World Investment Advisors LLC lifted its position in American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after buying an additional 3,867 shares in the last quarter. Keybank National Association OH lifted its position in American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares in the last quarter. LVM Capital Management Ltd. MI lifted its position in American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after buying an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC lifted its position in American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after buying an additional 1,113 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research analyst reports. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. HSBC raised their price target on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Truist Financial assumed coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. UBS Group raised 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. Finally, Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, American Express currently has an average rating of “Hold” and an average target price of $299.24.

American Express Stock Performance

NYSE AXP opened at $266.04 on Monday. The company’s fifty day moving average is $301.59 and its two-hundred day moving average is $288.41. The firm has a market capitalization of $186.90 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 52-week low of $214.51 and a 52-week high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) 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.