Precedent Wealth Partners LLC Buys 43 Shares of American Express (NYSE:AXP)

Precedent Wealth Partners LLC boosted its stake in shares of American Express (NYSE:AXP) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,064 shares of the payment services company’s stock after buying an additional 43 shares during the quarter. Precedent Wealth Partners LLC’s holdings in American Express were worth $613,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Auxier Asset Management increased its holdings in 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 buying an additional 35 shares during the last quarter. Abel Hall LLC grew its position in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after acquiring an additional 35 shares during the period. Sunflower Bank N.A. raised its holdings in shares of American Express by 0.9% in the 4th 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 during the period. Insight Inv LLC lifted its stake in American Express by 0.3% in the 4th quarter. Insight Inv LLC now owns 12,017 shares of the payment services company’s stock valued at $3,567,000 after purchasing an additional 36 shares during the last quarter. Finally, Sovereign Financial Group Inc. grew its holdings in 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 period. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction on 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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express Stock Performance

American Express stock opened at $320.87 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock has a market cap of $226.04 billion, a PE ratio of 23.61, a P/E/G ratio of 1.51 and a beta of 1.23. American Express has a 12-month low of $186.43 and a 12-month high of $326.27. The business’s 50-day moving average price is $302.35 and its two-hundred day moving average price is $274.66.

American Express (NYSE:AXPGet Free Report) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. As a group, analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is 20.60%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AXP shares. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday. BTIG Research lifted their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday. UBS Group raised their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Monness Crespi & Hardt upped their price target on shares of American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, TD Cowen boosted 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. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $281.00.

Get Our Latest Research Report on American Express

About American Express

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPFree Report).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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