Perennial Advisors LLC Purchases New Position in American Express (NYSE:AXP)

Perennial Advisors LLC purchased a new stake in American Express (NYSE:AXP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 49,942 shares of the payment services company's stock, valued at approximately $14,822,000. American Express accounts for approximately 3.2% of Perennial Advisors LLC's investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Vermillion Wealth Management Inc. bought a new position in shares of American Express during the fourth quarter worth about $79,000. AlphaCore Capital LLC lifted its stake in shares of American Express by 19.8% during the 4th quarter. AlphaCore Capital LLC now owns 945 shares of the payment services company's stock valued at $280,000 after buying an additional 156 shares in the last quarter. Mackenzie Financial Corp grew its stake in American Express by 1.0% in the 4th quarter. Mackenzie Financial Corp now owns 56,858 shares of the payment services company's stock worth $16,875,000 after buying an additional 563 shares in the last quarter. Griffith & Werner Inc. purchased a new stake in American Express in the fourth quarter worth approximately $1,311,000. Finally, Invst LLC grew its position in American Express by 0.9% during the 4th quarter. Invst LLC now owns 9,050 shares of the payment services company's stock worth $2,686,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Down 0.7%

Shares of NYSE AXP traded down $1.97 on Friday, hitting $293.41. The company had a trading volume of 964,355 shares, compared to its average volume of 2,837,369. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The firm has a market capitalization of $205.56 billion, a P/E ratio of 20.95, a PEG ratio of 1.41 and a beta of 1.23. 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 business has a 50 day moving average of $270.61 and a two-hundred day moving average of $288.68.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the business posted $3.33 earnings per share. As a group, equities research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were paid a dividend of $0.82 per share. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.12%. American Express's dividend payout ratio is presently 22.91%.

Analyst Ratings Changes

AXP has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Monness Crespi & Hardt lifted their price target on shares of American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, Truist Financial lifted their target price on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $296.05.

Insider Transactions at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

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.