Atria Wealth Solutions Inc. Acquires 1,747 Shares of American Express (NYSE:AXP)

Atria Wealth Solutions Inc. raised its holdings in American Express (NYSE:AXP) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,063 shares of the payment services company’s stock after buying an additional 1,747 shares during the period. Atria Wealth Solutions Inc.’s holdings in American Express were worth $12,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AXP. Prospera Private Wealth LLC bought a new stake in American Express during the third quarter worth $27,000. Kennebec Savings Bank purchased a new position in American Express during the 3rd quarter worth $29,000. True Wealth Design LLC grew its stake in shares of American Express by 332.0% in 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. purchased a new stake in shares of American Express in the third quarter valued at about $38,000. Finally, Financial Life Planners bought a new position in shares of American Express during the fourth quarter valued at about $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,664 shares of company stock worth $9,613,503. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $312.52 on Wednesday. The company’s 50 day simple moving average is $307.46 and its two-hundred day simple moving average is $283.46. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.67 and a quick ratio of 1.63. American Express has a 1 year low of $209.10 and a 1 year high of $326.27. The stock has a market capitalization of $220.16 billion, a PE ratio of 22.31, a P/E/G ratio of 1.50 and a beta of 1.24.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that American Express will post 15.32 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend 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 Analyst Weigh In

A number of equities research analysts have issued reports on AXP shares. Monness Crespi & Hardt upped their price objective on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Morgan Stanley upped their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Evercore ISI raised their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.38.

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.