Gallagher Fiduciary Advisors LLC Makes New $365,000 Investment in American Express (NYSE:AXP)

Gallagher Fiduciary Advisors LLC acquired a new stake in American Express (NYSE:AXP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,230 shares of the payment services company’s stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. Norges Bank purchased a new stake in shares of American Express in the 4th quarter valued at $1,785,867,000. Capital Research Global Investors lifted its position in American Express by 186.3% during the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock valued at $886,426,000 after purchasing an additional 1,943,463 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in American Express by 346.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock valued at $600,072,000 after purchasing an additional 1,568,747 shares during the last quarter. Proficio Capital Partners LLC grew its position in American Express by 36,719.1% during 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 purchasing an additional 1,009,042 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of American Express during the 4th quarter valued at about $292,081,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 3.2 %

AXP stock opened at $277.11 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average of $264.59 and a two-hundred day moving average of $286.92. American Express has a 12 month low of $220.43 and a 12 month high of $326.28. The company has a market cap of $194.14 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.41 and a beta of 1.16.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter last year, the firm earned $3.33 earnings per share. As a group, analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 22.91%.

Insider Buying and Selling

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on AXP shares. Keefe, Bruyette & Woods raised their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial cut their target price on shares of American Express from $340.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Argus cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company increased their target price on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $295.05.

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.