Insider Buying: American Express (NYSE:AXP) Director Purchases $998,593.00 in Stock

American Express (NYSE:AXP) Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

American Express Stock Performance

NYSE AXP opened at $256.31 on Friday. The stock has a market capitalization of $180.07 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.41 and a beta of 1.21. The business’s 50 day moving average is $302.33 and its two-hundred day moving average is $287.88. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping 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%. Research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Institutional Trading of American Express

A number of institutional investors have recently added to or reduced their stakes in AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the 3rd quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in American Express in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC raised its holdings 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 purchasing an additional 83 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in American Express during the fourth quarter worth $29,000. Finally, Sellwood Investment Partners LLC acquired a new stake in American Express in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. Truist Financial began 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. Compass Point decreased their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average target price of $296.38.

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.