American Express (NYSE:AXP) Shares Bought by Holderness Investments Co.

Holderness Investments Co. raised its holdings in American Express (NYSE:AXP) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,750 shares of the payment services company’s stock after buying an additional 40 shares during the period. Holderness Investments Co.’s holdings in American Express were worth $2,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Opal Wealth Advisors LLC grew its stake in American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after buying an additional 33 shares during the last quarter. Catalina Capital Group LLC grew its stake in American Express by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares during the last quarter. Boston Financial Mangement LLC grew its stake in American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares during the last quarter. Auxier Asset Management grew its stake in American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after buying an additional 35 shares during the last quarter. Finally, Abel Hall LLC grew its stake in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after buying an additional 35 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on AXP shares. Royal Bank of Canada upped their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Truist Financial assumed coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Compass Point decreased their price target on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $303.52.

American Express Trading Up 0.1 %

Shares of NYSE AXP opened at $270.80 on Friday. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The company has a market cap of $190.24 billion, a price-to-earnings ratio of 19.33, a P/E/G 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. The business has a fifty day simple moving average of $298.77 and a 200-day simple moving average of $288.23.

American Express (NYSE:AXP) last announced its 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%. Sell-side analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a $0.82 dividend. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is currently 23.41%.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction dated 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 directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

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.