AlTi Global Inc. Raises Stock Holdings in American Express (NYSE:AXP)

AlTi Global Inc. grew its stake in shares of American Express (NYSE:AXP) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,569 shares of the payment services company’s stock after acquiring an additional 133 shares during the quarter. AlTi Global Inc.’s holdings in American Express were worth $2,619,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in American Express during the 4th quarter valued at $33,000. Curio Wealth LLC bought a new position in shares of American Express during the 4th quarter valued at $37,000. Financial Life Planners purchased a new position in shares of American Express in the 4th quarter worth $38,000. Finally, Sierra Ocean LLC bought a new stake in shares of American Express in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AXP shares. Bank of America raised American Express from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Monness Crespi & Hardt boosted their target price on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $295.05.

American Express Trading Up 3.2 %

American Express stock opened at $277.11 on Friday. 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 firm’s 50 day moving average price is $264.59 and its 200-day moving average price is $286.95. American Express has a 1 year low of $220.43 and a 1 year high of $326.28. The stock has a market cap of $194.14 billion, a P/E ratio of 19.78, a PEG ratio of 1.41 and a beta of 1.16.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same quarter in the previous year, the company earned $3.33 EPS. On average, equities analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.18%. American Express’s dividend payout ratio is presently 22.91%.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated 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 directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.