Hanson & Doremus Investment Management increased its stake in shares of American Express (NYSE:AXP – Free Report) by 11.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,026 shares of the payment services company’s stock after purchasing an additional 314 shares during the period. Hanson & Doremus Investment Management’s holdings in American Express were worth $898,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Foster & Motley Inc. boosted its position in shares of American Express by 2.1% during the fourth quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after buying an additional 35 shares during the period. Swedbank AB boosted its holdings in American Express by 0.4% during the 4th quarter. Swedbank AB now owns 410,457 shares of the payment services company’s stock valued at $121,820,000 after acquiring an additional 1,778 shares during the period. Orrstown Financial Services Inc. grew its position in American Express by 15.3% in the 4th quarter. Orrstown Financial Services Inc. now owns 5,158 shares of the payment services company’s stock valued at $1,531,000 after acquiring an additional 685 shares in the last quarter. Strategic Blueprint LLC increased its stake in American Express by 1.7% during the fourth quarter. Strategic Blueprint LLC now owns 2,935 shares of the payment services company’s stock worth $871,000 after purchasing an additional 49 shares during the period. Finally, Patton Fund Management Inc. acquired a new stake in shares of American Express during the fourth quarter worth about $6,046,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
American Express Stock Performance
Shares of American Express stock opened at $315.14 on Thursday. The firm’s fifty day simple moving average is $303.60 and its 200-day simple moving average is $276.27. American Express has a 12 month low of $199.88 and a 12 month high of $326.27. The stock has a market capitalization of $222.00 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.51 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.
American Express Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.89%. American Express’s dividend payout ratio (DPR) is currently 20.60%.
Insider Activity
In related news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.12% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on AXP. Wells Fargo & Company upped their target price on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. UBS Group boosted their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods lifted their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $294.95.
Check Out Our Latest Stock Report on AXP
About American Express
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.
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