Concurrent Investment Advisors LLC Grows Stake in American Express (NYSE:AXP)

Concurrent Investment Advisors LLC lifted its position in American Express (NYSE:AXP) by 83.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,526 shares of the payment services company’s stock after buying an additional 9,322 shares during the period. Concurrent Investment Advisors LLC’s holdings in American Express were worth $6,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meitav Investment House Ltd. lifted its position in American Express by 70.4% during the fourth quarter. Meitav Investment House Ltd. now owns 27,136 shares of the payment services company’s stock valued at $8,056,000 after purchasing an additional 11,211 shares in the last quarter. Handelsbanken Fonder AB lifted its position in American Express by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 222,544 shares of the payment services company’s stock valued at $66,049,000 after purchasing an additional 6,241 shares in the last quarter. Sunpointe LLC lifted its position in American Express by 14.1% during the fourth quarter. Sunpointe LLC now owns 977 shares of the payment services company’s stock valued at $290,000 after purchasing an additional 121 shares in the last quarter. Parthenon LLC lifted its position in American Express by 1.2% during the fourth quarter. Parthenon LLC now owns 69,632 shares of the payment services company’s stock valued at $20,666,000 after purchasing an additional 792 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its position in American Express by 2,437.9% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 162,251 shares of the payment services company’s stock valued at $48,154,000 after purchasing an additional 155,858 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,664 shares of company stock worth $9,613,503. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. Monness Crespi & Hardt lifted their target price on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. HSBC raised their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, UBS Group raised their price target on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus target price of $296.38.

American Express Trading Down 0.9 %

Shares of AXP stock opened at $309.90 on Thursday. The stock has a market capitalization of $217.71 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. American Express has a 12-month low of $209.10 and a 12-month high of $326.27. 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 stock’s 50-day moving average price is $307.61 and its 200-day moving average price is $283.65.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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%. Equities research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express’s dividend payout ratio is currently 19.99%.

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.