Signature Wealth Management Group Acquires 202 Shares of American Express (NYSE:AXP)

Signature Wealth Management Group increased its holdings in American Express (NYSE:AXP) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,987 shares of the payment services company’s stock after buying an additional 202 shares during the period. Signature Wealth Management Group’s holdings in American Express were worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AXP. Opal Wealth Advisors LLC grew its stake in shares of American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC grew its stake in shares of American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after acquiring an additional 34 shares during the last quarter. Boston Financial Mangement LLC grew its stake in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after acquiring an additional 34 shares during the last quarter. Auxier Asset Management grew its stake in shares of American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after acquiring an additional 35 shares during the last quarter. Finally, Abel Hall LLC grew its stake in shares of American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 3.7 %

Shares of NYSE:AXP opened at $266.04 on Friday. The business has a fifty day moving average of $301.59 and a two-hundred day moving average of $288.20. American Express has a 52-week low of $214.51 and a 52-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. The stock has a market cap of $186.90 billion, a P/E ratio of 18.99, a PEG ratio of 1.41 and a beta of 1.21.

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 return on equity of 32.65% and a net margin of 15.36%. On average, research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.23%. American Express’s dividend payout ratio is presently 23.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXP. Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a report on Friday. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Monness Crespi & Hardt boosted their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.24.

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the 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 directly owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

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.