Rialto Wealth Management LLC Buys Shares of 155 American Express (NYSE:AXP)

Rialto Wealth Management LLC bought a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 155 shares of the payment services company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AXP. Prospera Private Wealth LLC bought a new stake in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank acquired a new position in shares of American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC increased its position 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 valued at $29,000 after buying an additional 83 shares in the last quarter. Financial Life Planners acquired a new stake in American Express during the 4th quarter worth $38,000. Finally, Sierra Ocean LLC bought a new position in American Express during the fourth quarter worth about $40,000. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of NYSE AXP opened at $273.13 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average price is $305.44 and its two-hundred day moving average price is $288.17. The company has a market cap of $191.88 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a twelve month low of $214.51 and a twelve month high of $326.27.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping 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%. On average, analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.20%. 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%.

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. Compass Point dropped their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently 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.