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Gateway Wealth Partners LLC Makes New $326,000 Investment in American Express (NYSE:AXP)

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Gateway Wealth Partners LLC bought a new stake in shares of American Express (NYSE:AXP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,097 shares of the payment services company's stock, valued at approximately $326,000.

Other large investors have also modified their holdings of the company. Auxier Asset Management raised its stake in American Express by 0.5% in 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 in the last quarter. Abel Hall LLC lifted its stake in shares of American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company's stock worth $274,000 after purchasing an additional 35 shares during the last quarter. Sunflower Bank N.A. boosted its position in American Express by 0.9% during the fourth 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 in the last quarter. Insight Inv LLC grew its stake in American Express by 0.3% in the fourth 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. raised its holdings in American Express by 2.7% in 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 in the last quarter. Institutional investors own 84.33% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Royal Bank of Canada upped their price target on American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Finally, Citigroup increased their price target on American Express from $305.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, American Express has an average rating of "Hold" and a consensus target price of $296.38.

Check Out Our Latest Stock Report on AXP

Insiders Place Their Bets

In related news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. The trade was 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 company insiders.

American Express Stock Performance

Shares of NYSE:AXP traded down $1.83 during trading on Friday, hitting $317.12. 2,033,296 shares of the stock traded hands, compared to its average volume of 2,461,818. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average price of $304.98 and a two-hundred day moving average price of $277.54. American Express has a 52-week low of $199.88 and a 52-week high of $326.27. The company has a market cap of $223.40 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.48 and a beta of 1.23.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, equities analysts predict that American Express will post 15.3 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.88%. American Express's dividend payout ratio is currently 19.99%.

American Express Profile

(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

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

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