American Express (NYSE:AXP) Shares Bought by Austin Wealth Management LLC

Austin Wealth Management LLC grew its position in shares of American Express (NYSE:AXP) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,374 shares of the payment services company’s stock after purchasing an additional 129 shares during the period. Austin Wealth Management LLC’s holdings in American Express were worth $429,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of American Express during the 3rd quarter worth about $27,000. Kennebec Savings Bank purchased a new position in shares of American Express during the 3rd quarter worth about $29,000. True Wealth Design LLC raised its holdings in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new position in American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners purchased a new position in American Express in the fourth quarter valued at approximately $38,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Express Price Performance

AXP stock opened at $255.38 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a one year low of $214.51 and a one year high of $326.27. The firm has a market capitalization of $179.41 billion, a PE ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21. The firm has a 50-day moving average of $303.89 and a two-hundred day moving average of $288.29.

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 analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is 23.41%.

Analysts Set New Price Targets

Several research firms recently commented on AXP. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. UBS Group lifted their price objective on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Citigroup lifted their price objective on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. 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 objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $296.38.

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.