American Express (NYSE:AXP) Shares Bought by Adero Partners LLC

Adero Partners LLC lifted its stake in shares of American Express (NYSE:AXP) by 76.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,717 shares of the payment services company’s stock after purchasing an additional 3,773 shares during the period. Adero Partners LLC’s holdings in American Express were worth $2,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of American Express by 105.4% in the 2nd quarter. Marshall Wace LLP now owns 1,000 shares of the payment services company’s stock worth $232,000 after purchasing an additional 19,400 shares in the last quarter. Czech National Bank grew its position in American Express by 5.7% in the third quarter. Czech National Bank now owns 114,408 shares of the payment services company’s stock worth $31,027,000 after buying an additional 6,122 shares during the last quarter. Aprio Wealth Management LLC lifted its position in shares of American Express by 5.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,040 shares of the payment services company’s stock valued at $282,000 after acquiring an additional 58 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of American Express by 29.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 16,578 shares of the payment services company’s stock worth $4,496,000 after acquiring an additional 3,772 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of American Express by 6.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,589 shares of the payment services company’s stock worth $1,244,000 after acquiring an additional 287 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

American Express Trading Up 1.4 %

American Express stock opened at $320.26 on Thursday. American Express has a one year low of $204.00 and a one year high of $326.27. The company’s fifty day moving average price is $305.41 and its two-hundred day moving average price is $278.72. The company has a market capitalization of $225.61 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.49 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.67 and a quick ratio of 1.63.

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 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%. On average, analysts forecast that American Express will post 15.3 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.87%. American Express’s payout ratio is presently 19.99%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AXP shares. HSBC increased their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Morgan Stanley lifted 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 report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Compass Point cut their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $296.38.

American Express Company 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.