Millstone Evans Group LLC Invests $731,000 in American Express (NYSE:AXP)

Millstone Evans Group LLC purchased a new stake in American Express (NYSE:AXP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,462 shares of the payment services company’s stock, valued at approximately $731,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. Prospera Private Wealth LLC bought a new position in American Express in the 3rd quarter valued at $27,000. True Wealth Design LLC raised its stake 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 worth $29,000 after buying an additional 83 shares in the last quarter. Curio Wealth LLC purchased a new stake in shares of American Express during the 4th quarter worth $37,000. Financial Life Planners bought a new stake in shares of American Express in the 4th quarter valued at about $38,000. Finally, Sierra Ocean LLC acquired a new stake in American Express in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXP. Truist Financial assumed coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Compass Point reduced their price target on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Morgan Stanley increased their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Bank of America dropped their price target on shares of American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Two equities research 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, American Express presently has a consensus rating of “Hold” and a consensus target price of $303.52.

Insider Activity at American Express

In other news, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express 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 transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express Price Performance

AXP opened at $270.48 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The stock has a fifty day moving average of $298.30 and a 200-day moving average of $288.31. The firm has a market capitalization of $190.02 billion, a P/E ratio of 19.31, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Equities analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

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

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.