Financial Network Wealth Management LLC Takes $216,000 Position in American Express (NYSE:AXP)

Financial Network Wealth Management LLC bought a new stake in American Express (NYSE:AXP) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 731 shares of the payment services company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently bought and sold shares of AXP. Prospera Private Wealth LLC bought a new position in shares of American Express in the third quarter worth about $27,000. True Wealth Design LLC increased its position 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 buying an additional 83 shares during the period. Curio Wealth LLC bought a new position in American Express in the 4th quarter worth approximately $37,000. Financial Life Planners bought a new stake in shares of American Express in the fourth quarter valued at approximately $38,000. Finally, Sierra Ocean LLC acquired a new stake in shares of American Express in the fourth quarter worth $40,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP stock opened at $270.80 on Friday. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average is $298.77 and its 200-day moving average is $288.23. The firm has a market capitalization of $190.24 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.41 and a beta of 1.21.

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 analysts’ consensus estimates 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 forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

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

Insider Activity

In related news, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were 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 owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AXP shares. HSBC increased their price target on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Monness Crespi & Hardt upped their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. BTIG Research raised their price objective on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Finally, Compass Point lowered their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $303.52.

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.