Investment Management Corp VA ADV Purchases Shares of 97 American Express (NYSE:AXP)

Investment Management Corp VA ADV acquired a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 97 shares of the payment services company’s stock, valued at approximately $29,000.

Other large investors also recently modified their holdings of the company. Sellwood Investment Partners LLC acquired a new position in American Express during the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the fourth quarter valued at approximately $33,000. Curio Wealth LLC acquired a new position in shares of American Express during the fourth quarter worth approximately $37,000. Financial Life Planners acquired a new position in shares of American Express during the fourth quarter worth approximately $38,000. Finally, Sierra Ocean LLC bought a new position in shares of American Express in the 4th quarter worth $40,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $287.09 on Friday. The stock has a fifty day moving average of $268.60 and a 200-day moving average of $288.58. The stock has a market cap of $201.13 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last posted its earnings results 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. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the previous year, the firm earned $3.33 EPS. Equities research analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.14%. American Express’s dividend payout ratio is currently 22.91%.

Wall Street Analyst Weigh In

A number of analysts have commented on AXP shares. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. 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 report on Tuesday, March 18th. Truist Financial lowered their price objective on American Express from $340.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, BTIG Research lowered their price target on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $295.05.

American Express Company 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.