Pinnacle Wealth Planning Services Inc. Lowers Holdings in American Express (NYSE:AXP)

Pinnacle Wealth Planning Services Inc. cut its holdings in American Express (NYSE:AXP) by 30.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,812 shares of the payment services company’s stock after selling 1,218 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in American Express were worth $835,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AXP. Prospera Private Wealth LLC purchased a new position in American Express in the 3rd quarter worth approximately $27,000. Kennebec Savings Bank purchased a new position in American Express in the 3rd quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in American Express in the 3rd quarter worth approximately $38,000. Finally, Financial Life Planners purchased a new position in American Express in the 4th quarter worth approximately $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $284.20 on Thursday. The stock’s fifty day moving average is $306.57 and its two-hundred day moving average is $287.59. The company has a market capitalization of $199.66 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52 week low of $214.51 and a 52 week high of $326.27.

American Express (NYSE:AXP) last announced 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 return on equity of 32.65% and a net margin of 15.36%. As a group, analysts expect 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. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.15%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio is currently 23.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AXP shares. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Monness Crespi & Hardt lifted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their price objective on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $296.38.

Insiders Place Their Bets

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction on 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 directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

About American Express

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.