Parr Mcknight Wealth Management Group LLC Makes New $305,000 Investment in American Express (NYSE:AXP)

Parr Mcknight Wealth Management Group LLC acquired a new position in American Express (NYSE:AXP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,026 shares of the payment services company's stock, valued at approximately $305,000.

Several other large investors have also recently bought and sold shares of AXP. Norges Bank bought a new stake in American Express in the 4th quarter valued at $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in American Express by 463.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock valued at $1,293,259,000 after buying an additional 3,583,959 shares during the period. Capital Research Global Investors increased its holdings in American Express by 186.3% in the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock valued at $886,426,000 after buying an additional 1,943,463 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock valued at $600,072,000 after buying an additional 1,568,747 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock valued at $300,289,000 after buying an additional 1,009,042 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of the firm'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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

American Express Stock Up 0.4%

Shares of NYSE:AXP traded up $1.30 during midday trading on Thursday, hitting $294.66. The stock had a trading volume of 656,897 shares, compared to its average volume of 2,837,522. The business's 50-day simple moving average is $270.26 and its 200-day simple moving average is $288.66. The company has a market cap of $206.44 billion, a P/E ratio of 21.04, a PEG ratio of 1.41 and a beta of 1.23. American Express has a 12 month low of $220.43 and a 12 month high of $326.28. 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 (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter in the previous year, the firm earned $3.33 earnings per share. On average, sell-side analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were issued a $0.82 dividend. The ex-dividend date was Friday, April 4th. 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 1.11%. American Express's dividend payout ratio is presently 22.91%.

Wall Street Analyst Weigh In

AXP has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $310.00 target price on shares of American Express in a report on Monday, April 21st. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. Wells Fargo & Company upped their target price on shares of American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Truist Financial upped their target price on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, BTIG Research decreased their price objective on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $296.05.

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.