New Age Alpha Advisors LLC Acquires 51,118 Shares of American Express (NYSE:AXP)

New Age Alpha Advisors LLC lifted its holdings in American Express (NYSE:AXP) by 116,177.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,162 shares of the payment services company’s stock after acquiring an additional 51,118 shares during the period. American Express accounts for about 0.6% of New Age Alpha Advisors LLC’s portfolio, making the stock its 23rd biggest holding. New Age Alpha Advisors LLC’s holdings in American Express were worth $15,184,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in American Express by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after purchasing an additional 86,100 shares during the period. Fisher Asset Management LLC grew its stake in American Express by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after acquiring an additional 95,927 shares in the last quarter. Norges Bank bought a new stake in American Express in the 4th quarter valued at $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in American Express by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after purchasing an additional 239,173 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after purchasing an additional 33,193 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $272.15 on Friday. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. The business’s 50 day moving average price is $295.97 and its 200 day moving average price is $289.03. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market cap of $191.19 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

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

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on 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 directly 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 disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AXP shares. Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Morgan Stanley upped their target price on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Truist Financial assumed coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their price objective on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $302.57.

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.