Florida Financial Advisors LLC raised its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 102.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,501 shares of the payment services company's stock after buying an additional 1,266 shares during the period. Florida Financial Advisors LLC's holdings in American Express were worth $672,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after purchasing an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of American Express by 24.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock valued at $781,000 after purchasing an additional 525 shares during the period. GHE LLC raised its stake in shares of American Express by 2.7% during the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company's stock valued at $5,052,000 after purchasing an additional 447 shares during the period. Proficio Capital Partners LLC raised its stake in shares of American Express by 24.1% during the fourth quarter. Proficio Capital Partners LLC now owns 3,409 shares of the payment services company's stock valued at $1,012,000 after purchasing an additional 661 shares during the period. Finally, one8zero8 LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $985,000. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Stock Up 0.4%
Shares of American Express stock traded up $1.21 on Wednesday, reaching $311.86. 2,855,731 shares of the company were exchanged, compared to its average volume of 2,844,738. 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 company has a market capitalization of $218.49 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.56 and a beta of 1.25. American Express Company has a one year low of $220.43 and a one year high of $329.14. The company has a 50-day moving average of $302.35 and a 200 day moving average of $290.77.
American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $16.97 billion for 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 period in the prior year, the firm posted $3.33 EPS. On average, equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.
American Express Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.05%. American Express's dividend payout ratio is presently 22.91%.
Insider Activity
In other news, insider Glenda G. Mcneal sold 3,019 shares of the 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 owned 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider directly owned 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Truist Financial lifted their price target on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday. Citigroup restated a "neutral" rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, American Express has a consensus rating of "Hold" and an average price target of $307.68.
View Our Latest Report on AXP
About American Express
(
Free Report)
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.
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