Mission Wealth Management LP Has $2.87 Million Holdings in American Express (NYSE:AXP)

Mission Wealth Management LP decreased its position in American Express (NYSE:AXP) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,656 shares of the payment services company’s stock after selling 643 shares during the quarter. Mission Wealth Management LP’s holdings in American Express were worth $2,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. Prospera Private Wealth LLC bought a new position in shares of American Express during the third quarter worth about $27,000. Kennebec Savings Bank acquired a new position in American Express during the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its stake in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners bought a new stake in shares of American Express in the fourth quarter worth $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AXP shares. Royal Bank of Canada raised their target price on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Wells Fargo & Company raised their price objective on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Evercore ISI upped their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. upped 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 equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $296.38.

American Express Price Performance

American Express stock opened at $295.12 on Tuesday. The company has a market capitalization of $207.33 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.41 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The stock’s 50 day moving average is $307.36 and its 200-day moving average is $287.39.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.11%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 19.99%.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.