AdvisorNet Financial Inc Has $153,000 Stake in American Express (NYSE:AXP)

AdvisorNet Financial Inc reduced its stake in American Express (NYSE:AXP) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 515 shares of the payment services company’s stock after selling 164 shares during the period. AdvisorNet Financial Inc’s holdings in American Express were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. Prospera Private Wealth LLC acquired a new stake in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in shares of American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its holdings in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in American Express during the 3rd quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express in the 3rd quarter worth about $46,000. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $312.75 on Friday. The firm has a 50 day moving average of $298.75 and a 200-day moving average of $271.18. The company has a market cap of $220.32 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 52 week low of $177.81 and a 52 week high of $315.40.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period last year, the company posted $3.30 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that American Express will post 13.48 earnings per share for the current year.

American Express Dividend Announcement

The company 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, January 3rd. American Express’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Monness Crespi & Hardt lifted their price target on American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. TD Cowen boosted their target price 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. Truist Financial assumed 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 for the company. Wells Fargo & Company lifted their price target on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Finally, Morgan Stanley increased their price objective on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $278.09.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’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 completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,998 shares of company stock valued at $26,423,439. 0.12% of the stock is owned by company insiders.

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.