Alpine Bank Wealth Management Invests $1.47 Million in American Express Company (NYSE:AXP)

Alpine Bank Wealth Management purchased a new stake in shares of American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,445 shares of the payment services company's stock, valued at approximately $1,465,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC increased its position in American Express by 4.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 10,132 shares of the payment services company's stock valued at $2,726,000 after buying an additional 474 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of American Express by 121.3% in the 1st quarter. Golden State Wealth Management LLC now owns 8,681 shares of the payment services company's stock worth $2,338,000 after purchasing an additional 4,758 shares during the last quarter. Aurora Private Wealth Inc. grew its position in American Express by 408.7% during the 1st quarter. Aurora Private Wealth Inc. now owns 34,151 shares of the payment services company's stock valued at $9,188,000 after purchasing an additional 27,438 shares during the last quarter. Spire Wealth Management increased its stake in American Express by 119.5% during the 1st quarter. Spire Wealth Management now owns 7,815 shares of the payment services company's stock valued at $2,103,000 after purchasing an additional 4,254 shares in the last quarter. Finally, Mattern Capital Management LLC raised its holdings in American Express by 11.0% in the first quarter. Mattern Capital Management LLC now owns 2,107 shares of the payment services company's stock worth $567,000 after buying an additional 208 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE:AXP traded up $3.16 during midday trading on Thursday, reaching $311.75. 3,254,420 shares of the company were exchanged, compared to its average volume of 2,826,568. The stock has a market cap of $218.41 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The business's fifty day moving average is $286.36 and its two-hundred day moving average is $288.84. American Express Company has a one year low of $220.43 and a one year high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same quarter last year, the business posted $3.33 earnings per share. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio is presently 22.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AXP shares. The Goldman Sachs Group lowered their price objective on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. BTIG Research lowered their price objective on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research report on Monday, April 21st. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. William Blair restated an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Finally, Truist Financial increased their target price on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $296.05.

Insider Activity at American Express

In other 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now owns 9,402 shares of the company's stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is 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.