Veery Capital LLC Acquires New Shares in American Express (NYSE:AXP)

Veery Capital LLC bought a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 690 shares of the payment services company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Auxier Asset Management boosted its holdings in shares of American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares in the last quarter. Abel Hall LLC raised its position in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares during the last quarter. Sunflower Bank N.A. boosted its stake in shares of American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock valued at $1,203,000 after purchasing an additional 35 shares in the last quarter. Sovereign Financial Group Inc. grew its holdings in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares during the last quarter. Finally, Legacy Financial Strategies LLC increased its stake in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after buying an additional 40 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $312.75 on Friday. The company’s 50-day moving average is $299.26 and its 200-day moving average is $271.73. American Express has a 1 year low of $177.81 and a 1 year high of $315.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $220.32 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $3.30 earnings per share. Equities research analysts expect that American Express will post 13.48 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. American Express’s payout ratio is 20.60%.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,998 shares of company stock valued at $26,423,439 in the last three months. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXP shares. Truist Financial began coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. TD Cowen lifted their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Finally, UBS Group upped their price target on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $278.09.

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.