Cetera Investment Advisers Has $43.29 Million Stake in American Express Company (NYSE:AXP)

Key Points

• Cetera Investment Advisers raised its stake in American Express (NYSE: AXP) by 11.2%, holding 160,883 shares valued at approximately $43.29 million as of the latest SEC filing.
• Insider sales indicate significant ownership reduction, with Howard Grosfield selling 9,450 shares, reflecting a 50.13% decrease in his holdings.
• American Express announced a quarterly dividend of $0.82 per share, yielding 1.05%, with a payout ratio of 23.02% as of its July earnings report.

Cetera Investment Advisers raised its position in American Express Company (NYSE:AXP - Free Report) by 11.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 160,883 shares of the payment services company's stock after buying an additional 16,218 shares during the period. Cetera Investment Advisers' holdings in American Express were worth $43,285,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in shares of American Express in the 4th quarter valued at $29,000. MorganRosel Wealth Management LLC acquired a new stake in American Express during the 1st quarter worth $29,000. Nexus Investment Management ULC acquired a new stake in American Express during the 1st quarter worth $34,000. Hughes Financial Services LLC acquired a new stake in American Express during the 1st quarter worth $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the 1st quarter worth $40,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Howard Grosfield sold 9,450 shares of the business'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 transaction of $2,603,475.00. Following the completion of the sale, the insider owned 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on AXP. Barclays raised their price objective on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised their price objective on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Wells Fargo & Company set a $327.00 price objective on American Express in a research note on Wednesday, July 2nd. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Finally, Truist Financial lifted their price target on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $311.05.

American Express Stock Performance

American Express stock traded down $3.71 during midday trading on Wednesday, reaching $304.83. 562,309 shares of the company's stock were exchanged, compared to its average volume of 2,965,582. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The firm has a market cap of $212.13 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.65 and a beta of 1.25. The stock's 50-day simple moving average is $305.40 and its 200 day simple moving average is $291.44.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter last year, the company posted $3.49 earnings per share. American Express's quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio is presently 23.02%.

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.