American Express (NYSE:AXP) Shares Acquired by Assetmark Inc.

Assetmark Inc. boosted its stake in American Express (NYSE:AXP) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,073 shares of the payment services company’s stock after buying an additional 2,048 shares during the period. Assetmark Inc.’s holdings in American Express were worth $20,500,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its holdings in shares of American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after acquiring an additional 1,009,042 shares during the last quarter. FMR LLC lifted its holdings in shares of American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after acquiring an additional 316,219 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after acquiring an additional 300,138 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its holdings in shares of American Express by 22.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company’s stock worth $450,429,000 after acquiring an additional 273,813 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 3.1 %

NYSE AXP opened at $275.32 on Friday. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a market capitalization of $193.42 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The firm’s fifty day moving average price is $306.00 and its 200 day moving average price is $287.50.

American Express (NYSE:AXP) last issued its quarterly earnings data 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, sell-side analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company 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 annualized dividend and a dividend yield of 1.19%. The ex-dividend date 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 23.41%.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. UBS Group increased their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Evercore ISI increased 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. Royal Bank of Canada increased their target price on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Express 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.