PFG Advisors Reduces Stock Position in American Express (NYSE:AXP)

PFG Advisors cut its stake in American Express (NYSE:AXP) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,060 shares of the payment services company’s stock after selling 149 shares during the period. PFG Advisors’ holdings in American Express were worth $1,502,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Natural Investments LLC purchased a new position in American Express in the fourth quarter valued at about $2,377,000. Fairway Wealth LLC purchased a new position in American Express in the fourth quarter valued at about $59,000. Founders Financial Alliance LLC grew its position in shares of American Express by 4.2% in the fourth quarter. Founders Financial Alliance LLC now owns 2,669 shares of the payment services company’s stock valued at $792,000 after purchasing an additional 107 shares during the last quarter. Miller Financial Services LLC acquired a new stake in shares of American Express in the fourth quarter valued at approximately $700,000. Finally, Sage Mountain Advisors LLC grew its position in shares of American Express by 21.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 4,403 shares of the payment services company’s stock valued at $1,307,000 after purchasing an additional 778 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction on 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 sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now directly owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several research reports. Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. UBS Group increased their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Compass Point lowered their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.38.

American Express Stock Down 1.7 %

Shares of AXP opened at $256.31 on Friday. The firm has a market cap of $180.07 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s fifty day moving average is $302.33 and its two-hundred day moving average is $287.88. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm 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 $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

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.