Adero Partners LLC Increases Stock Position in American Express (NYSE:AXP)

Adero Partners LLC increased its position in American Express (NYSE:AXP) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,944 shares of the payment services company’s stock after purchasing an additional 74 shares during the quarter. Adero Partners LLC’s holdings in American Express were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AXP. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares during the last quarter. Boston Partners boosted its stake in American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after acquiring an additional 387,166 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in American Express by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock valued at $456,418,000 after acquiring an additional 7,676 shares during the last quarter. abrdn plc boosted its stake in American Express by 2.2% during the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after acquiring an additional 27,859 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in American Express by 2.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock valued at $282,589,000 after acquiring an additional 23,487 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AXP shares. Morgan Stanley increased their price objective on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and increased their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, TD Cowen increased their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Stock Down 0.5 %

American Express stock opened at $286.87 on Friday. The stock has a market cap of $202.09 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.65 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company’s 50-day moving average price is $272.31 and its two-hundred day moving average price is $251.20. American Express has a 52 week low of $157.97 and a 52 week high of $296.83.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company earned $3.30 EPS. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. American Express’s dividend payout ratio (DPR) is 20.60%.

About American Express

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.