American Express (NYSE:AXP) Position Boosted by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 1.2% during the 4th quarter, Holdings Channel reports. The fund owned 55,443 shares of the payment services company’s stock after purchasing an additional 680 shares during the period. Perigon Wealth Management LLC’s holdings in American Express were worth $17,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AXP. Marshall Wace LLP grew its position in American Express by 105.4% in the 2nd quarter. Marshall Wace LLP now owns 1,000 shares of the payment services company’s stock valued at $232,000 after buying an additional 19,400 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of American Express by 31.2% in the 2nd quarter. AQR Capital Management LLC now owns 109,198 shares of the payment services company’s stock worth $25,285,000 after acquiring an additional 25,937 shares during the period. Kathmere Capital Management LLC boosted its holdings in shares of American Express by 6.3% in the second quarter. Kathmere Capital Management LLC now owns 1,129 shares of the payment services company’s stock valued at $261,000 after acquiring an additional 67 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of American Express during the second quarter valued at approximately $214,000. Finally, Ascent Group LLC raised its holdings in American Express by 3.8% during the second quarter. Ascent Group LLC now owns 6,121 shares of the payment services company’s stock worth $1,417,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AXP shares. Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Barclays upped their price target on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. HSBC lifted their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Citigroup increased their target price on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday. Three 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $291.50.

American Express Price Performance

NYSE AXP opened at $316.23 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $222.77 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. The company has a 50 day simple moving average of $302.35 and a 200-day simple moving average of $275.17. American Express has a 52-week low of $199.07 and a 52-week high of $326.27.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. Equities research analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is currently 20.60%.

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.