Callan Family Office LLC Acquires New Position in American Express (NYSE:AXP)

Callan Family Office LLC acquired a new stake in American Express (NYSE:AXP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,414 shares of the payment services company's stock, valued at approximately $3,981,000.

A number of other large investors also recently bought and sold shares of AXP. Hartford Funds Management Co LLC lifted its holdings in shares of American Express by 6.0% in the 4th quarter. Hartford Funds Management Co LLC now owns 9,978 shares of the payment services company's stock worth $2,962,000 after acquiring an additional 563 shares during the last quarter. Chatham Capital Group Inc. raised its position in American Express by 1.9% in the fourth quarter. Chatham Capital Group Inc. now owns 25,867 shares of the payment services company's stock valued at $7,677,000 after purchasing an additional 471 shares during the period. E Fund Management Co. Ltd. lifted its stake in American Express by 65.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 1,378 shares of the payment services company's stock worth $409,000 after purchasing an additional 543 shares in the last quarter. Candriam S.C.A. boosted its position in shares of American Express by 1.4% during the fourth quarter. Candriam S.C.A. now owns 340,965 shares of the payment services company's stock worth $101,195,000 after buying an additional 4,723 shares during the period. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of American Express in the 4th quarter valued at $396,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Buying and Selling

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost 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. 0.12% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Truist Financial started coverage on shares of American Express in a report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 price objective for the company. BTIG Research increased their target price on shares of American Express from $266.00 to $270.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $296.38.

American Express Stock Down 2.3 %

AXP stock traded down $5.94 during midday trading on Tuesday, reaching $255.38. 4,924,551 shares of the company were exchanged, compared to its average volume of 2,682,411. The stock's 50-day simple moving average is $304.72 and its 200 day simple moving average is $288.26. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a market cap of $179.41 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results 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%. On average, equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a 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%.

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.