UNIVEST FINANCIAL Corp Sells 1,850 Shares of American Express (NYSE:AXP)

UNIVEST FINANCIAL Corp reduced its holdings in shares of American Express (NYSE:AXP) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,624 shares of the payment services company’s stock after selling 1,850 shares during the period. American Express comprises approximately 0.9% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 26th biggest holding. UNIVEST FINANCIAL Corp’s holdings in American Express were worth $14,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Opal Wealth Advisors LLC lifted its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after buying an additional 33 shares during the period. Catalina Capital Group LLC raised its position in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after acquiring an additional 34 shares during the last quarter. Boston Financial Mangement LLC lifted its stake in American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares in the last quarter. Auxier Asset Management boosted its stake in shares of American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the last quarter. Finally, Abel Hall LLC grew its holdings in shares of American Express by 3.6% during the third 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 in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Monness Crespi & Hardt lifted their price target on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their target price on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group decreased their price target on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, BTIG Research increased their target price on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $302.57.

American Express Stock Up 0.5 %

AXP opened at $279.23 on Wednesday. The firm has a market capitalization of $196.17 billion, a P/E ratio of 19.93, a PEG ratio of 1.41 and a beta of 1.21. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company’s 50-day moving average is $297.50 and its 200 day moving average is $289.24.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 23.41%.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

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.