AlTi Global Inc. Grows Stock Holdings in American Express (NYSE:AXP)

AlTi Global Inc. lifted its stake in American Express (NYSE:AXP) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,569 shares of the payment services company’s stock after acquiring an additional 133 shares during the period. AlTi Global Inc.’s holdings in American Express were worth $2,619,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sellwood Investment Partners LLC purchased a new position in shares of American Express during the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the 4th quarter worth about $33,000. Curio Wealth LLC purchased a new stake in shares of American Express in the 4th quarter valued at about $37,000. Financial Life Planners bought a new stake in shares of American Express during the 4th quarter valued at about $38,000. Finally, Sierra Ocean LLC purchased a new position in shares of American Express during the fourth quarter worth about $40,000. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AXP shares. HSBC raised their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their target price on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. BTIG Research cut their price objective on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a report on Monday, April 21st. Finally, Truist Financial decreased their price objective on American Express from $340.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $295.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares of the company’s stock, 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.

American Express Price Performance

AXP 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 company has a market cap of $194.14 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The stock has a fifty day simple moving average of $264.59 and a two-hundred day simple moving average of $286.95. American Express has a 12-month low of $220.43 and a 12-month high of $326.28.

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

American Express Increases Dividend

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

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.