Scissortail Wealth Management LLC boosted its stake in shares of American Express (NYSE:AXP - Free Report) by 100,466.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,017 shares of the payment services company's stock after buying an additional 3,014 shares during the period. Scissortail Wealth Management LLC's holdings in American Express were worth $895,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express in the 4th quarter valued at approximately $832,000. Keybank National Association OH raised its stake in American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock valued at $103,858,000 after purchasing an additional 12,364 shares during the period. Edge Capital Group LLC lifted its holdings in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after purchasing an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 17.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company's stock worth $5,638,000 after buying an additional 2,826 shares during the period. Finally, NewEdge Wealth LLC grew its holdings in shares of American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock valued at $7,747,000 after buying an additional 1,471 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.
American Express Trading Down 0.0%
American Express stock opened at $299.48 on Friday. American Express has a one year low of $220.43 and a one year high of $326.28. The company's fifty day moving average price is $266.20 and its two-hundred day moving average price is $288.02. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a market capitalization of $209.81 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.41 and a beta of 1.23.
American Express (NYSE:AXP - Get Free Report) last released 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. American Express had a return on equity of 32.65% and a net margin of 15.36%. The company had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the company posted $3.33 EPS. On average, 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 declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is 22.91%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on AXP. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their target price on American Express from $244.00 to $260.00 and gave the company a "neutral" rating 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 research report on Friday, March 14th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Finally, Morgan Stanley upped their price objective on shares of American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. One equities 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 stock. According to data from MarketBeat.com, American Express has a consensus rating of "Hold" and a consensus target price of $295.05.
Check Out Our Latest Stock Analysis on American Express
Insider Activity
In related news, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were 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 now directly owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.
American Express Company Profile
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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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