American Express (NYSE:AXP) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its position in American Express (NYSE:AXP) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 12,174 shares of the payment services company’s stock after acquiring an additional 93 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Express were worth $3,613,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of American Express in the fourth quarter valued at about $832,000. World Investment Advisors LLC increased its holdings in shares of American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the period. Keybank National Association OH boosted its stake in shares of American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI boosted its stake in shares of American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after buying an additional 2,557 shares during the last quarter. Finally, Edge Capital Group LLC boosted its stake in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after buying an additional 1,113 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction on 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. HSBC upped their target price on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their target price on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.24.

American Express Price Performance

NYSE:AXP opened at $266.04 on Friday. American Express has a one year low of $214.51 and a one year high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market cap of $186.90 billion, a PE ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.21. The stock has a 50 day moving average price of $301.59 and a 200 day moving average price of $287.97.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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 fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

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.