Beaumont Financial Advisors LLC Raises Stock Holdings in American Express (NYSE:AXP)

Beaumont Financial Advisors LLC boosted its holdings in American Express (NYSE:AXP) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,604 shares of the payment services company’s stock after purchasing an additional 235 shares during the period. Beaumont Financial Advisors LLC’s holdings in American Express were worth $2,554,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in American Express during the third quarter valued at about $27,000. Kennebec Savings Bank purchased a new position in American Express in the third quarter valued at about $29,000. True Wealth Design LLC grew its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the 3rd quarter worth approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Express in the 3rd quarter worth approximately $46,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.8 %

AXP opened at $318.07 on Wednesday. The business’s fifty day simple moving average is $299.65 and its 200 day simple moving average is $272.78. American Express has a 52 week low of $184.06 and a 52 week high of $319.70. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock has a market cap of $224.06 billion, a PE ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23.

American Express Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Activity

In related news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on Wednesday, November 27th. The shares were 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AXP shares. Monness Crespi & Hardt raised their target price on American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Finally, Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $278.09.

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.