Mission Wealth Management LP Has $2.87 Million Stock Position in American Express (NYSE:AXP)

Mission Wealth Management LP lessened its holdings in American Express (NYSE:AXP) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,656 shares of the payment services company’s stock after selling 643 shares during the quarter. Mission Wealth Management LP’s holdings in American Express were worth $2,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AXP. Prospera Private Wealth LLC acquired a new stake in American Express in the third quarter valued at about $27,000. Kennebec Savings Bank bought a new position in shares of American Express in the third quarter worth about $29,000. True Wealth Design LLC boosted its stake in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of American Express during the 3rd quarter valued at approximately $38,000. Finally, Financial Life Planners acquired a new position in American Express during the 4th quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Morgan Stanley boosted their price objective on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Evercore ISI increased their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective 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 company’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $296.38.

Insider Buying and Selling at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $295.12 on Tuesday. 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 twelve month low of $214.51 and a twelve month high of $326.27. The company has a fifty day moving average of $307.36 and a 200-day moving average of $287.39. The firm has a market capitalization of $207.33 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP) last posted its quarterly earnings results 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%. As a group, sell-side analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.11%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 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.