Linscomb Wealth Inc. Sells 36 Shares of American Express (NYSE:AXP)

Linscomb Wealth Inc. decreased its holdings in American Express (NYSE:AXP) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,003 shares of the payment services company’s stock after selling 36 shares during the period. Linscomb Wealth Inc.’s holdings in American Express were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of American Express in the 4th quarter worth approximately $832,000. World Investment Advisors LLC boosted its stake in American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after acquiring an additional 3,867 shares in the last quarter. XML Financial LLC increased its position in shares of American Express by 9.8% during the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after purchasing an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI lifted its holdings in shares of American Express by 3.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock valued at $5,638,000 after purchasing an additional 2,826 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $300.77 on Friday. The company has a market capitalization of $211.30 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company’s fifty day moving average price is $307.44 and its 200 day moving average price is $286.43. American Express has a 1 year low of $214.51 and a 1 year 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 (EPS) for the quarter, topping 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, research analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods upped their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. BTIG Research lifted their target price on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Evercore ISI upped their price target on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. Finally, Truist Financial started coverage on shares of American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Three investment 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $296.38.

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.