American Express (NYSE:AXP) Holdings Boosted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lifted its holdings in American Express (NYSE:AXP) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,392 shares of the payment services company’s stock after acquiring an additional 105 shares during the quarter. American Express comprises about 1.0% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 21st largest position. Daymark Wealth Partners LLC’s holdings in American Express were worth $30,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its stake in shares of American Express by 4.5% during the 2nd quarter. Pacer Advisors Inc. now owns 40,554 shares of the payment services company’s stock valued at $9,390,000 after buying an additional 1,754 shares during the period. EverSource Wealth Advisors LLC boosted its position in American Express by 20.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the payment services company’s stock valued at $881,000 after purchasing an additional 590 shares during the last quarter. Certified Advisory Corp grew its stake in American Express by 4.0% in the second quarter. Certified Advisory Corp now owns 1,303 shares of the payment services company’s stock valued at $302,000 after purchasing an additional 50 shares in the last quarter. Evergreen Capital Management LLC increased its position in American Express by 1.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 9,137 shares of the payment services company’s stock worth $2,116,000 after purchasing an additional 140 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of American Express by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 1,048,371 shares of the payment services company’s stock worth $251,609,000 after purchasing an additional 7,086 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on American Express from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Monness Crespi & Hardt raised their price target on shares of American Express from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley upped their price objective on shares of American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on American Express from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $278.09.

American Express Stock Up 1.8 %

Shares of AXP opened at $318.07 on Wednesday. The company has a 50-day simple moving average of $300.24 and a 200-day simple moving average of $273.36. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a 52 week low of $184.06 and a 52 week high of $319.70. The firm has a market capitalization of $224.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.88%. American Express’s dividend payout ratio (DPR) is currently 20.60%.

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.