Selway Asset Management Boosts Holdings in American Express (NYSE:AXP)

Selway Asset Management increased its stake in shares of American Express (NYSE:AXP) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,272 shares of the payment services company’s stock after purchasing an additional 100 shares during the period. American Express accounts for approximately 2.1% of Selway Asset Management’s investment portfolio, making the stock its 15th biggest position. Selway Asset Management’s holdings in American Express were worth $5,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sellwood Investment Partners LLC acquired a new stake in American Express during the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp acquired a new position in American Express during the fourth quarter worth about $33,000. Curio Wealth LLC acquired a new position in American Express during the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. purchased a new stake in American Express during the 3rd quarter valued at about $38,000. Finally, Financial Life Planners acquired a new stake in American Express in the 4th quarter valued at about $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $275.64 on Thursday. The stock has a market capitalization of $193.65 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business has a 50-day moving average of $292.26 and a 200 day moving average of $289.76. American Express has a 12 month low of $214.51 and a 12 month high of $326.28.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed 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 1.19%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 23.41%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AXP shares. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial assumed coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. Wells Fargo & Company raised their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Finally, Monness Crespi & Hardt raised their price objective on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $302.57.

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.