Lindbrook Capital LLC Buys 826 Shares of American Express (NYSE:AXP)

Lindbrook Capital LLC raised its stake in American Express (NYSE:AXP) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,659 shares of the payment services company’s stock after buying an additional 826 shares during the period. Lindbrook Capital LLC’s holdings in American Express were worth $1,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in American Express by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 47,545 shares of the payment services company’s stock worth $12,896,000 after purchasing an additional 212 shares during the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in shares of American Express during the third quarter worth $484,000. Catalina Capital Group LLC raised its stake in American Express by 9.7% during the third quarter. Catalina Capital Group LLC now owns 3,322 shares of the payment services company’s stock worth $901,000 after buying an additional 295 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in American Express by 12.3% in the third quarter. Radnor Capital Management LLC now owns 45,919 shares of the payment services company’s stock valued at $12,453,000 after buying an additional 5,045 shares during the period. Finally, Maia Wealth LLC boosted its position in American Express by 11.8% during the third quarter. Maia Wealth LLC now owns 1,312 shares of the payment services company’s stock valued at $354,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.3 %

Shares of American Express stock opened at $284.20 on Thursday. 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 stock has a fifty day simple moving average of $306.57 and a 200 day simple moving average of $287.59. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The company has a market capitalization of $199.66 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its 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 net margin of 15.36% and a return on equity of 32.65%. On average, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insider Activity at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares in the company, valued at $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. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AXP shares. Keefe, Bruyette & Woods lifted their price objective on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. Royal Bank of Canada increased their price target on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $296.38.

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.