Cornerstone Wealth Management LLC Has $1.08 Million Position in American Express (NYSE:AXP)

Cornerstone Wealth Management LLC cut its holdings in shares of American Express (NYSE:AXP) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,629 shares of the payment services company’s stock after selling 37 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in American Express were worth $1,077,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in American Express in the 3rd quarter valued at $27,000. Kennebec Savings Bank acquired a new position in American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC grew its holdings in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express during the 3rd quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express during the 3rd quarter worth $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value 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 $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. 0.12% of the stock is owned by company insiders.

American Express Trading Down 1.5 %

Shares of American Express stock opened at $320.87 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a 52 week low of $186.43 and a 52 week high of $326.27. The stock has a 50 day moving average price of $301.67 and a two-hundred day moving average price of $274.06. The stock has a market capitalization of $226.04 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.46% and a net margin of 15.32%. As a group, equities analysts anticipate that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, January 3rd. American Express’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AXP. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial assumed coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Finally, Compass Point raised their price objective on American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $281.00.

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.