Guardian Partners Inc. Takes $8.70 Million Position in American Express (NYSE:AXP)

Guardian Partners Inc. purchased a new stake in American Express (NYSE:AXP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,719 shares of the payment services company's stock, valued at approximately $8,698,000.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of American Express in the fourth quarter worth about $61,578,000. Umpqua Bank increased its holdings in American Express by 1.9% during the 4th quarter. Umpqua Bank now owns 2,284 shares of the payment services company's stock worth $686,000 after acquiring an additional 43 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in American Express in the 4th quarter worth approximately $68,000. Sfmg LLC bought a new position in American Express in the 4th quarter valued at $363,000. Finally, American Century Companies Inc. grew its position in shares of American Express by 13.8% during the 4th quarter. American Century Companies Inc. now owns 1,123,961 shares of the payment services company's stock valued at $333,580,000 after purchasing an additional 136,723 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Trading Down 0.3 %

Shares of AXP traded down $0.89 during trading hours on Thursday, reaching $275.11. 329,088 shares of the company traded hands, compared to its average volume of 2,776,750. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The company has a market capitalization of $193.28 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company's fifty day moving average price is $296.76 and its two-hundred day moving average price is $289.15. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

Remove Ads

American Express (NYSE:AXP - Get Free Report) last posted its earnings results 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%. Equities research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's payout ratio is 23.41%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Evercore ISI lifted their price objective on American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They set a "buy" rating and a $350.00 price objective for the company. BTIG Research raised their target price on shares of American Express from $266.00 to $270.00 and gave the company a "sell" rating in a research note on Friday, January 24th. Morgan Stanley lifted their target price on shares of American Express from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $302.57.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, 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 filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.12% of the company's stock.

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.