Insight Advisors LLC PA Lowers Holdings in American Express (NYSE:AXP)

Insight Advisors LLC PA cut its holdings in American Express (NYSE:AXP) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,008 shares of the payment services company’s stock after selling 139 shares during the period. Insight Advisors LLC PA’s holdings in American Express were worth $1,786,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AXP. Choreo LLC raised its holdings in shares of American Express by 29.2% during the 4th quarter. Choreo LLC now owns 23,305 shares of the payment services company’s stock worth $6,926,000 after acquiring an additional 5,270 shares in the last quarter. Money Concepts Capital Corp raised its holdings in shares of American Express by 103.6% during the 4th quarter. Money Concepts Capital Corp now owns 2,466 shares of the payment services company’s stock worth $732,000 after acquiring an additional 1,255 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American Express by 11.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,765 shares of the payment services company’s stock worth $26,589,000 after acquiring an additional 9,268 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of American Express by 19.4% during the 4th quarter. Y.D. More Investments Ltd now owns 1,548 shares of the payment services company’s stock worth $459,000 after acquiring an additional 251 shares in the last quarter. Finally, Jackson Wealth Management LLC raised its holdings in shares of American Express by 9.2% during the 4th quarter. Jackson Wealth Management LLC now owns 9,175 shares of the payment services company’s stock worth $2,723,000 after acquiring an additional 770 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 1.4 %

NYSE:AXP opened at $320.26 on Thursday. The stock has a 50-day simple moving average of $305.41 and a 200-day simple moving average of $278.72. The stock has a market cap of $225.61 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.49 and a beta of 1.24. American Express has a 1 year low of $204.00 and a 1 year high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67.

American Express (NYSE:AXP) last posted its quarterly earnings results 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 return on equity of 32.65% and a net margin of 15.36%. As a group, analysts anticipate that American Express will post 15.3 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is presently 19.99%.

Insider Buying and Selling

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXP. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective on the stock. Monness Crespi & Hardt increased their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Compass Point decreased their price target on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, HSBC increased their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Three equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $296.38.

American Express 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.