Premier Path Wealth Partners LLC Boosts Stock Position in American Express Company (NYSE:AXP)

Premier Path Wealth Partners LLC lifted its holdings in American Express Company (NYSE:AXP) by 2.8% in the first quarter, HoldingsChannel reports. The firm owned 4,666 shares of the payment services company’s stock after purchasing an additional 128 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American Express were worth $1,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Keybank National Association OH lifted its position in American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the last quarter. Edge Capital Group LLC lifted its position in 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 worth $1,915,000 after buying an additional 1,113 shares during the last quarter. NewEdge Wealth LLC lifted its position in American Express by 6.0% in the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after buying an additional 1,471 shares during the last quarter. Griffith & Werner Inc. bought a new stake in American Express in the fourth quarter worth $1,311,000. Finally, Oppenheimer & Co. Inc. lifted its position in American Express by 11.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock worth $14,842,000 after buying an additional 4,959 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

American Express Stock Performance

AXP stock opened at $296.54 on Thursday. 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 business has a 50-day moving average price of $281.42 and a 200 day moving average price of $288.84. The company has a market capitalization of $207.75 billion, a P/E ratio of 20.71, a PEG ratio of 1.43 and a beta of 1.25. American Express Company has a 1-year low of $220.43 and a 1-year high of $326.28.

American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $3.33 earnings per share. As a group, equities research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid 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 1.11%. American Express’s dividend payout ratio (DPR) is presently 22.91%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial raised their price target on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Citigroup lowered their price target on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $296.05.

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.