RWA Wealth Partners LLC Has $8.27 Million Stock Position in American Express (NYSE:AXP)

RWA Wealth Partners LLC raised its holdings in American Express (NYSE:AXP) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,854 shares of the payment services company’s stock after buying an additional 818 shares during the quarter. RWA Wealth Partners LLC’s holdings in American Express were worth $8,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. True Wealth Design LLC lifted its holdings 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 purchasing an additional 83 shares in the last quarter. Sellwood Investment Partners LLC acquired a new position in American Express during the fourth quarter worth $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express in the fourth quarter valued at $33,000. Curio Wealth LLC acquired a new position in shares of American Express during the fourth quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the 3rd quarter worth about $38,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In other news, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now directly owns 3,700 shares in the company, valued at $998,593. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the company’s 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 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AXP. Keefe, Bruyette & Woods raised their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Citigroup dropped their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. 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 price objective on the stock. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada boosted their price target on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $302.57.

American Express Stock Performance

Shares of NYSE:AXP opened at $265.16 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $295.02 and a 200-day moving average price of $289.43. The company has a market cap of $186.28 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12 month low of $214.51 and a 12 month high of $326.28.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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%. As a group, equities analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a $0.82 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.24%. American Express’s dividend payout ratio (DPR) is presently 23.41%.

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.