American Express (NYSE:AXP) Shares Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC boosted its position in shares of American Express (NYSE:AXP) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 903 shares of the payment services company’s stock after buying an additional 152 shares during the period. Magnolia Capital Advisors LLC’s holdings in American Express were worth $268,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in American Express during the third quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in American Express during the third quarter worth approximately $29,000. True Wealth Design LLC increased its position in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. acquired a new position in American Express during the third quarter worth approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the business’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 value of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial assumed coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. TD Cowen upped their price objective on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays boosted their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $296.38.

American Express Price Performance

Shares of NYSE AXP opened at $317.12 on Monday. American Express has a fifty-two week low of $199.88 and a fifty-two week high of $326.27. The business has a 50 day moving average price of $304.98 and a two-hundred day moving average price of $277.54. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The firm has a market cap of $223.40 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. Sell-side analysts expect that American Express will post 15.3 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. American Express’s payout ratio is 19.99%.

About American Express

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.