Centerpoint Advisors LLC Sells 119 Shares of American Express (NYSE:AXP)

Centerpoint Advisors LLC trimmed its holdings in American Express (NYSE:AXP) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,851 shares of the payment services company’s stock after selling 119 shares during the quarter. Centerpoint Advisors LLC’s holdings in American Express were worth $1,143,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cyndeo Wealth Partners LLC lifted its stake in American Express by 5.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,284 shares of the payment services company’s stock worth $619,000 after purchasing an additional 108 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of American Express by 17.8% in the third quarter. OLD National Bancorp IN now owns 6,083 shares of the payment services company’s stock worth $1,650,000 after purchasing an additional 920 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of American Express by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 55,053 shares of the payment services company’s stock worth $14,930,000 after buying an additional 7,990 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in American Express by 3.5% during the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after buying an additional 41 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new position in American Express during the 3rd quarter valued at approximately $2,943,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of NYSE:AXP opened at $311.37 on Tuesday. The firm’s 50 day simple moving average is $306.96 and its 200-day simple moving average is $282.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67. American Express has a one year low of $209.10 and a one year high of $326.27. The firm has a market cap of $219.34 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

American Express (NYSE:AXP) last issued 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 32.65% and a net margin of 15.36%. As a group, equities analysts predict that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s payout ratio is 19.99%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research reports. Barclays increased their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, January 27th. Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $296.38.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,664 shares of company stock valued at $9,613,503. Company insiders own 0.12% of the company’s stock.

American Express 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.