NewEdge Wealth LLC Has $7.75 Million Stock Position in American Express (NYSE:AXP)

NewEdge Wealth LLC grew its stake in American Express (NYSE:AXP) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,102 shares of the payment services company’s stock after buying an additional 1,471 shares during the period. NewEdge Wealth LLC’s holdings in American Express were worth $7,747,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express in the 4th quarter valued at $832,000. World Investment Advisors LLC increased its position in shares of American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after buying an additional 3,867 shares in the last quarter. XML Financial LLC increased its position in shares of American Express by 9.8% in the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock valued at $306,000 after buying an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI increased its position in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after buying an additional 2,557 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its holdings in American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock worth $5,638,000 after purchasing an additional 2,826 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AXP shares. UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Monness Crespi & Hardt raised their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. 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 MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $296.38.

American Express Trading Down 0.7 %

Shares of AXP stock opened at $294.09 on Friday. The firm has a 50 day moving average price of $307.39 and a two-hundred day moving average price of $285.99. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $206.61 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. American Express has a 12-month low of $214.51 and a 12-month high of $326.27.

American Express (NYSE:AXP) last released its quarterly 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 net margin of 15.36% and a return on equity of 32.65%. As a group, analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were given a $0.70 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.95%. American Express’s payout ratio is 19.99%.

Insider Activity

In other news, insider Raymond Joabar sold 15,179 shares of American Express 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 sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

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.