Linscomb Wealth Inc. Reduces Position in American Express (NYSE:AXP)

Linscomb Wealth Inc. trimmed its holdings in American Express (NYSE:AXP) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,003 shares of the payment services company’s stock after selling 36 shares during the quarter. Linscomb Wealth Inc.’s holdings in American Express were worth $891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Opal Wealth Advisors LLC increased its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares in the last quarter. Catalina Capital Group LLC grew its position in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares during the period. Boston Financial Mangement LLC increased its holdings in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares in the last quarter. Auxier Asset Management lifted its position in shares of American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares during the period. Finally, Abel Hall LLC grew its holdings in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE:AXP opened at $300.77 on Friday. The company has a market cap of $211.30 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.41 and a beta of 1.24. The firm’s 50 day moving average is $307.44 and its two-hundred day moving average is $286.43. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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, 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%. Analysts expect that American Express will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, January 3rd. American Express’s payout ratio is currently 19.99%.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction 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 directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated 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 directly owns 23,866 shares in the company, valued at $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. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AXP. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Morgan Stanley boosted their price objective on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Monness Crespi & Hardt upped their price target on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, BTIG Research raised their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Three 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. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average 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.