HM Payson & Co. raised its position in American Express (NYSE:AXP) by 7.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 265,645 shares of the payment services company’s stock after buying an additional 18,501 shares during the quarter. HM Payson & Co.’s holdings in American Express were worth $33,070,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Colony Group LLC increased its stake in shares of American Express by 0.7% during the 3rd quarter. Colony Group LLC now owns 148,966 shares of the payment services company’s stock valued at $17,620,000 after acquiring an additional 999 shares during the last quarter. Voya Investment Management LLC increased its position in American Express by 0.3% in the third quarter. Voya Investment Management LLC now owns 333,176 shares of the payment services company’s stock worth $39,408,000 after buying an additional 1,157 shares during the period. Redpoint Investment Management Pty Ltd increased its position in American Express by 22.1% in the third quarter. Redpoint Investment Management Pty Ltd now owns 71,896 shares of the payment services company’s stock worth $8,504,000 after buying an additional 13,007 shares during the period. SWS Partners acquired a new stake in American Express in the third quarter worth $341,000. Finally, Neo Ivy Capital Management increased its position in American Express by 82.2% in the third quarter. Neo Ivy Capital Management now owns 10,644 shares of the payment services company’s stock worth $1,281,000 after buying an additional 4,803 shares during the period. 84.98% of the stock is currently owned by institutional investors.
Shares of NYSE:AXP traded up $7.52 during midday trading on Thursday, reaching $97.69. The company had a trading volume of 2,319,072 shares, compared to its average volume of 10,661,593. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a 1-year low of $67.00 and a 1-year high of $138.13. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11. The company has a fifty day simple moving average of $112.91 and a two-hundred day simple moving average of $119.54.
American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $2.03 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.03. American Express had a return on equity of 30.21% and a net margin of 15.44%. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.36 billion. During the same period last year, the company posted $1.84 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts expect that American Express will post 8.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 3rd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, April 2nd. American Express’s payout ratio is 20.98%.
A number of brokerages have recently commented on AXP. Credit Suisse Group lowered their price target on American Express from $120.00 to $95.00 and set an “underperform” rating on the stock in a report on Wednesday, March 18th. ValuEngine raised American Express from a “sell” rating to a “hold” rating in a report on Friday, March 6th. Piper Sandler lowered their price target on American Express from to in a report on Thursday, March 12th. Stephens lowered their price target on American Express from $144.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Finally, Argus raised American Express from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Monday, March 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $122.79.
In related news, Director Theodore Leonsis sold 7,575 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $132.61, for a total value of $1,004,520.75. Following the transaction, the director now directly owns 4,005 shares of the company’s stock, valued at approximately $531,103.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 27,571 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $136.04, for a total value of $3,750,758.84. Following the completion of the transaction, the insider now directly owns 53,739 shares in the company, valued at $7,310,653.56. The disclosure for this sale can be found here. Insiders sold a total of 81,639 shares of company stock worth $10,880,261 over the last three months. 0.21% of the stock is owned by company insiders.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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