Rebalance LLC Acquires 191 Shares of American Express (NYSE:AXP)

Rebalance LLC boosted its holdings in shares of American Express (NYSE:AXP) by 12.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,776 shares of the payment services company’s stock after acquiring an additional 191 shares during the period. Rebalance LLC’s holdings in American Express were worth $527,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

AXP has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.38.

Insider Transactions at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express Price Performance

NYSE:AXP opened at $273.13 on Monday. 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 firm has a fifty day simple moving average of $305.44 and a 200 day simple moving average of $288.17. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. The stock has a market capitalization of $191.88 billion, a PE ratio of 19.50, a P/E/G ratio of 1.41 and a beta of 1.21.

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

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

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.